BingX Secures Austrian MiCA License for European Expansion

Cryptocurrency exchange BingX has secured a Markets in Crypto-Assets (MiCA) license through its European subsidiary, MEGE zweite GmbH. Austria’s Financial Market Authority (FMA) granted the authorization on October 13, according to regulators, clearing the way for a planned expansion across 29 European markets.

The approval covers four specific cryptocurrency services under the European Union’s regulatory framework. BingX EU is authorized to provide crypto custody, exchanges between cryptocurrencies and conventional money, crypto-to-crypto exchanges, and digital asset transfer services. However, the regulatory notice explicitly excludes other activities such as operating a multilateral crypto trading platform, managing customer portfolios, providing investment advice, or executing leveraged derivatives contracts.

European Expansion Strategy

BingX EU intends to use its Austrian authorization to serve individual and institutional customers across 29 European Economic Area (EEA) countries. Under the MiCA framework, authorized crypto asset service providers can offer approved services in other participating European jurisdictions through a passporting process. Companies must notify their home regulator about the target countries, planned services, and starting dates before completing cross-border notifications.

BingX EU chief executive Daniel Lai stated that the authorization allows the business to deliver a locally regulated trading experience for European users. The company has not yet announced a specific date for launching its regulated services across these European markets or which jurisdiction will receive them first.

Key facts

• Licensing Authority: Austria’s Financial Market Authority (FMA) approved the license on October 13.
• Operating Entity: The authorization was issued to European subsidiary MEGE zweite GmbH under company registration number FN 666009a.
• Approved Services: Custody, fiat-to-crypto exchanges, crypto-to-crypto swaps, and digital asset transfers.
• Expansion Scope: The company plans to serve 29 EEA countries pending required cross-border notification procedures.