BingX EU has received a Markets in Crypto-Assets Regulation (MiCA) license from Austria’s Financial Market Authority (FMA), allowing the company to prepare regulated crypto services across 29 European Economic Area countries. The authorization marks a major step in BingX’s European expansion as crypto platforms face increasing pressure to meet regional regulatory standards.
Announced on October 14, 20261, the license was granted to MEGE zweite GmbH, which operates as BingX EU and is headquartered in Vienna. The authorization covers crypto-asset services, including custody and exchange services, under the European Union’s unified regulatory framework.
BingX EU plans to work with Austria’s FMA and other European regulators as it prepares to launch its regulated services across the EEA. Access across the 29 markets remains subject to the applicable passporting arrangements and regulatory requirements.
The approval comes as crypto exchanges increasingly pursue local licenses to maintain access to major markets. With MiCA establishing common rules for crypto-asset service providers across the EU, regulatory authorization has become an important part of exchanges’ European expansion strategies.
BingX EU Says MiCA License Will Strengthen European User Protection
BingX EU said the authorization reflects its long-term commitment to responsible growth in Europe. The company expects its regulated operations to support greater transparency, security and investor protection while serving both retail and institutional clients.
Daniel Lai, CEO of BingX EU, said the company aims to give European users access to a locally regulated trading experience.
“Operating under MiCAR will allow us to deliver our services under a clear regulatory framework that gives users confidence while supporting the long-term development of Europe’s digital ecosystem,” Lai said.
The company also plans to combine product development with stronger accountability and compliance standards. Its Austrian authorization provides a regulatory basis for its European operations, although the precise launch schedule and availability of individual services will depend on the relevant requirements.
Under the MiCA authorization, BingX EU plans to provide regulated brokerage services, including crypto custody and exchange services. The company said it will continue working with regulators as it prepares to serve eligible clients across the region.
For European customers, the distinction between a global trading platform and its locally authorized entity makes a big difference. Services, product access and applicable protections may differ depending on the entity serving a customer and the country in which they reside.
MiCA Creates a Common Regulatory Route Across Europe
The Markets in Crypto-Assets Regulation establishes a common regulatory framework for crypto-asset markets across the European Union. It sets requirements for companies providing covered crypto services, including authorization, organizational standards and safeguards for clients.
For exchanges seeking to serve multiple European markets, authorization can offer a route to cross-border expansion through passporting. However, a license in one member state does not automatically mean every service can launch everywhere without further regulatory steps.
BingX EU’s authorization from Austria’s FMA places the company within this regulatory structure. Its stated target is to serve clients in 29 EEA countries, subject to applicable passporting arrangements. Other exchanges also licensed in Austria include Bybit and KuCoin, both one of the biggest crypto trading platforms in the industry.
Find all MiCA licensed exchanges
The development also comes as exchanges weigh the cost of regulatory compliance against the commercial opportunities in Europe. Licensing, monitoring, reporting and customer protection requirements can increase operating costs, but they can also establish clearer conditions for serving customers across multiple jurisdictions.
For BingX, the Austrian approval adds a regulated European entity to a business that already serves a global user base. The next stage will be putting its planned services into operation under the relevant requirements.
BingX Expands Its Multi-Asset Offering With BXUSD
In related news, BingX’s European regulatory progress comes alongside continued product development. On October 19, the company announced BXUSD2, a yield-bearing savings product backed by investments in a US money market fund managed by Franklin Templeton.
BingX said it invested in the fund to support the offering. BXUSD is a yield certificate available within the BingX platform, designed to let eligible users receive daily yield distributions while retaining options to redeem their holdings or use them as margin for USDT-margined futures trading.
BingX also says users can transfer BXUSD to eligible USDT-margined futures accounts and enable Multi-Assets Mode. Under the applicable product terms, each BXUSD counts as one USDT of margin while remaining eligible to earn yield. Fast redemption typically takes about one minute, although timing and availability depend on the product’s conditions.
Kevin Lee, BingX’s chief strategy officer, said BXUSD aims to connect fund-based yield opportunities with the platform’s trading services.
The launch expands BingX’s offerings beyond crypto spot and futures trading, copy trading and traditional financial markets. However, the BXUSD announcement does not establish that the product is available to every European customer or that it falls within the services covered by the Austrian MiCA authorization. Users should check the applicable eligibility rules and product terms before subscribing.
Other Regulatory News: Bybit & WhiteBIT Licensing in Dubai
BingX may have gotten the biggest regulatory development this week, but its Austrian authorization is part of a bigger trend toward local regulatory approval. Two major players Bybit and WhiteBIT also announced their own milestones in Dubai.
Bybit Secures VARA License for Exchange Services in Dubai
On October 21, 2026, Bybit announced3 that its Dubai-based entity, Bybit Fintech FZE, had secured a Virtual Asset Service Provider license from Dubai’s Virtual Assets Regulatory Authority (VARA) for exchange services covering spot trading.
Bybit established its international headquarters in Dubai in 2022. The company said the new license supports its effort to operate within established local rules and contribute to Dubai’s digital asset sector.
Bybit CEO Ben Zhou described the approval as another step in the company’s work with Dubai’s regulators. The license announced by Bybit covers exchange services for spot trading. It should not be interpreted as approval for all the company’s products or trading activities in Dubai, so derivatives-focused traders may still need to look for alternative platforms. Chief Legal and Compliance Officer Peter Loo said Bybit hopes to expand its licensed activities to derivatives in the future, subject to the necessary regulatory approvals.
Bybit also pointed to other regulatory approvals obtained during 2026, spanning the European Union, the Cayman Islands, Indonesia, South Africa and El Salvador. Together, these developments illustrate how major exchanges are pursuing market-specific permissions as they expand internationally.
WhiteBIT Advances Its UAE Expansion After VARA In-Principle Approval
WhiteBIT has also taken steps to expand through regulated markets. WB Fintech Development FZE, operating under the WhiteBIT brand, received In-Principle Approval from Dubai’s VARA just a week earlier on October 13, 20264.
The approval is a conditional stage in the regulator’s licensing process. It does not yet authorize WhiteBIT to operate or serve clients in the UAE. The company must complete further steps and obtain the full license before launching the planned regulated services.
WhiteBIT said it intends to build its UAE presence in cooperation with VARA, local banks and regional partners. The company views the country as a strategic market connecting Europe, Asia and Africa.
The development follows WhiteBIT EU’s receipt of MiCA authorization from Austria’s FMA in May/June 2026. That approval provides a European regulatory foundation, while the UAE process represents a separate licensing effort under Dubai’s rules.
The distinction between full authorization and in-principle approval is important. While BingX EU and WhiteBIT EU have announced Austrian MiCA authorizations, WhiteBIT’s UAE approval remains conditional and does not permit it to begin serving clients there. Nevertheless, it’s an important first step toward full approval.
Regulatory Approval Becomes a Key Part of Exchange Expansion
The latest announcements from BingX, Bybit and WhiteBIT show how crypto companies are working to secure authorization in major markets. Rather than relying on a single global operating model, exchanges are increasingly developing local entities and seeking permissions tailored to each jurisdiction.
For BingX, the Austrian license provides a foundation for its planned expansion across 29 EEA countries. The company now needs to complete the work required to launch its regulated services and ensure that eligible customers receive access under the applicable arrangements. Its BXUSD launch also shows that BingX continues to expand its product range alongside its regulatory efforts, while at the same time partnering with major established financial firms.
As crypto regulation develops, the practical test for exchanges will be how effectively they turn licenses into compliant services, while maintaining existing services without too many restrictions. BingX’s Austrian authorization marks a significant step in that process, with the rollout of its European services still ahead.
- BingX EU Secures MiCAR License: https://bingx.com/en/blog/article/bingx-eu-secures-micar-licence ↩︎
- BingX Launches BXUSD: https://bingx.com/en/blog/article/bingx-launches-bxusd-franklin-templeton ↩︎
- Bybit Secures VARA License for Exchange Services in Dubai: https://www.bybit.com/en/press/post/bybit-secures-vara-licence-for-exchange-services-in-dubai-bb294dd6a0a381467c8 ↩︎
- WhiteBIT Receives In-Principle Approval From Dubai’s VARA: https://blog.whitebit.com/en/whitebit-receives-in-principle-approval-from-dubais-vara/ ↩︎
