Update (July 2, 2025, at 2:10 pm UTC): This article has been updated to add commentary by Erald Ghoos, OKX Europe CEO.
Crypto exchanges Bybit and OKX both launched fully regulated platforms in Europe this week as regulatory clarity continues to attract major exchanges to the bloc.
According to a Wednesday announcement, crypto exchange Bybit.eu launched to serve European Economic Area (EEA) users with a Crypto-Asset Service Provider (CASP) license under the Markets in Crypto-Assets Regulation (MiCA) framework. Under the rules, Bybit’s Austria-based operations, established in late May, are licensed in 29 EEA countries.
Competing crypto exchange OKX also announced on Wednesday that it has launched its fully regulated centralized crypto exchange in France via MiCA passporting. OKX Europe CEO Erald Ghoos said France is a key market for the company and its presence there is “a major milestone in our European expansion.”
Bybit.eu offers a multi-lingual platform with support for English, Polish, Portuguese and Spanish, with plans to add German, French, Italian and Romanian. The exchange said it will aggregate liquidity from multiple providers and offer advanced trading tools tailored for European retail and institutional users.
OKX’s platform includes euro trading pairs, staking products and trading bots, along with localized customer support.
OKX Europe CEO Erald Ghoos told Cointelegraph that the firm is fully aligned with MiCA standards and is also a licensed custodian in Europe. User funds are reportedly fully segregated as required by the framework.
Ghoos said OKX also provides “MiCA-aligned custodian safeguards, including off-balance-sheet treatment of user assets and automatic reconciliation protocols.”
Related: Coinbase secures MiCA license, names Luxembourg as EU headquarters
MiCA changes crypto in Europe
The two launches come just months after MiCA came fully into effect on Dec. 30, 2024. The new rules standardize crypto regulation across the EU and introduce a passporting mechanism, enabling licensed firms to operate in any EEA country without needing additional approvals.
This is also a primary reason cited in favor of establishing crypto service provider operations in the EEA rather than in competing jurisdictions such as the United Kingdom.
Related: ‘Policy procrastination’ leaves UK trailing EU, US in crypto regulation: Experts
Europe is a crypto battlefield
The European Economic…
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