Bybit in 2025: European Expansion, Massive Volumes, and Increased Transparency

With the launch of Bybit EU, a fully MiCA compliant platform operated from Vienna, the exchange now combines a unified regulatory framework and market depth, two important signals for users seeking robust and liquid access.

A clear European framework (MiCA) and a dedicated gateway

At the end of May 2025, Bybit EU obtained a MiCAR license in Austria (FMA) before “passporting” its services within the EEA via Bybit EU.

The goal: to offer Europeans a regulated, localized entry point backed by the exchange’s global capabilities (spot, savings products, derivatives depending on country). For users, this means KYC onboarding and services aligned with MiCA, while benefiting from Bybit’s international liquidity. 

Market strength: volumes and order book depth

In terms of activity, Bybit ranks among the top in the world. On the spot segment, the platform regularly reports several billions of dollars in 24-hour volume.

And especially, derivatives, the core of its positioning, generate tens of billions of dollars per day, with one of the highest open interests in the sector; metrics that explain the exchange’s attractiveness for active trading. 

Work by Kaiko has furthermore documented Bybit’s rise since 2024, at times reaching second place worldwide by market share. A fact that credibly places the exchange in the leading pack over time.

Security and transparency: a measured response, verified reserves

Bybit EU operates within a strict MiCA framework, offering EEA users an infrastructure designed to meet the highest European standards.

Each account is opened under FMA jurisdiction (Austria) with complete KYC onboarding and advanced security mechanisms (2FA, asset isolation).

Regarding transparency, Bybit EU regularly publishes Proof-of-Reserves verified by third-party auditor Hacken, demonstrating full coverage of “in-scope” assets and including liabilities related to loans.

This combination: MiCA compliance, secure custody, and publication of independent audits, places Bybit EU among the most reliable platforms for European users seeking regulated and transparent access to the crypto market.

Why join (or return to) Bybit if you are in Europe?

• Regulation: EU account under MiCA (Austria/FMA) with onboarding and products designed for the European framework.
• Liquidity: spot volumes among the highest, competitive order book depth for execution.
• Transparency: recurring Proof-of-Reserves, third-party audit (Hacken), and publication of coverage ratios.
• Ecosystem: offering from beginner to pro (spot, savings, API), with a localized UX via Bybit EU

Here is a concise comparison, focused on European users:

Criteria	Bybit	Coinbase
EU Framework	Dedicated platform Bybit EU, operated from Vienna, MiCA license (FMA Austria) and EEA deployment.	MiCA License (Luxembourg/CSSF) obtained in June 2025; EU services in alignment process.
Liquidity / Volumes	Among the worldwide leaders; very high daily derivatives volumes and market shares exceeding Coinbase (Kaiko).	Strong on spot; growing derivatives (International Exchange) and arrival of US perps (nano BTC/ETH) in 2025.
Derivatives (depth / offer)	Wide offer of perps & options, notable depth on many pairs. Bybit advantage for active traders.	Non-US perps via Coinbase International (strong rise in 2024-25); limited US perps (2 nano contracts at launch).
Trading fees	Generally competitive structure on spot & derivatives (according to volume tiers). Bybit advantage for execution costs.	Advanced Trade: public maker/taker grid; low tiers remain higher than many competitors.
Reserve transparency	Recurring Proof-of-Reserves, audited by Hacken; latest report: > 100% coverage of “in-scope” assets. Bybit advantage.	Publicly listed company (NASDAQ) with audited financial statements, but no on-chain PoR like Merkle for client balances. (House policy)
EU Onboarding / Support	Localized experience (European languages, 24/7 support, regional VIP management) via Bybit EU.	EU onboarding via European entities; services adapting post-MiCA.
Market share (trend)	Kaiko documented passing Coinbase in 2024; Bybit advantage on current depth.	Strong global market share, especially on spot; derivatives acceleration but still below historic heavyweights.

For an EEA user seeking liquidity, comprehensive trading tools, and PoR visibility, Bybit scores decisively while offering an EU compliant MiCA channel via Bybit EU. 

Coinbase retains strong assets (listed environment, regulatory anchorage, robust spot offer), and strengthens its derivatives, but the operational advantage (depth/volumes and audited PoR) today leans toward Bybit for a trading/spot-oriented use.

Bybit, a web3 giant

With Bybit EU and a MiCA license clarifying its European scope, Bybit today presents a strong “regulation + liquidity” couple. 

The volumes and speed of liquidity normalization post-incident signal a market depth matched by few players. Combined with an audited Proof-of-Reserves policy, these elements make it a serious option for EEA users seeking regulated yet efficient access. 

Before opening an account, keep your good practices: KYC, 2FA, deposit test, and reserve verification of the assets you target, but overall, Bybit EU’s 2025 roadmap in Europe is clear and credible.