Bybit EU has agreed to utilize ClearBank Europe’s banking tech stack to support cloud based banking services including digital assets
Bybit EU is an Austrian Crypto-Asset Service Provider (CASP) authorized under the Markets in Crypto-Assets Regulation (MiCAR) in Austria. Bybit EU serves customers across the entire European Economic Area (EEA). Bybit EU is the compliant European version of the larger global Bybit crypto exchange.
Partnering with a banking service provider is emblematic of the convergence between native crypto firms and more traditional bank offerings.
According to a public statement, ClearBank will provide “safeguarding on customers’ accounts and on/off-ramping service” and transfers between fiat currency and digital assets.
Bybit is also pursuing a European Electronic Money Institution (EMI) license to expand its offerings.
Additionally, Bybit is said to be poised to utilize ClearBank to expand into the UK and perhaps other jurisdictions.
Tristan Kirchner, CEO at ClearBank Europe, said they have supported Bybit EU’s launch as it seeks to meet the needs of fast-growing firms operating in complex markets.
ClearBank Europe N.V. is authorized by the European Central Bank (ECB) and is subject to its prudential supervision, with day-to-day supervision conducted by De Nederlandsche Bank (DNB).
