BingX EU, operating legally as MEGE zweite GmbH, has received authorisation under the European Union’s Markets in Crypto-Assets Regulation from Austria’s Financial Market Authority, positioning the Vienna-based company to seek access to regulated crypto markets across the European Economic Area.
The authorisation, announced by the company on Oct. 20, permits BingX EU to provide specific crypto-asset services subject to MiCA’s rules and the completion of passporting procedures in individual jurisdictions. The company said it expects to serve both retail users and institutional clients in up to 29 EEA countries, though the availability of services will depend on local requirements and the permissions recognised in each market.
MiCA passporting allows a crypto-asset service provider authorised in one EU or EEA state to expand into other participating jurisdictions without applying for a separate full licence in every country. The system is designed to replace the fragmented national regimes that governed much of Europe’s crypto market before MiCA took effect.
Authorisation covers custody, exchange and transfers
MEGE zweite GmbH said its MiCA approval covers crypto-asset custody, exchanges between crypto-assets and funds, exchanges between crypto-assets, and the transfer of crypto-assets on behalf of clients. These are core spot-market services, including holding customer assets, converting cryptocurrencies into fiat money or other digital assets, and facilitating transfers to external wallets.
The permitted scope does not automatically extend to every product available through the wider BingX brand. Derivatives, leveraged trading, margin products and other complex instruments would require separate legal analysis and may fall under financial-services rules outside the MiCA authorisation held by the Austrian entity.
That distinction will shape the European version of the platform. A user accessing BingX EU under its regulated structure may encounter a narrower product set than one available on an international platform, particularly where products involve borrowing, leverage or contracts linked to cryptocurrency prices rather than direct ownership of the assets.
Lai, chief executive of BingX EU, said the company intends to offer crypto trading services in Europe under local rules, citing MiCA standards around security, transparency, accountability and user expectations.
The company said it would continue working with Austria’s Financial Market Authority and other European regulators before rolling out services across the EEA. It did not provide a timetable for launches in individual countries.
A growing list of MiCA-authorised firms
The approval arrives as the European crypto market moves further beyond its transitional licensing period. European Securities and Markets Authority records showed 375 crypto-asset service providers on the bloc’s compliance list as of Oct. 16, according to the information supplied by BingX EU.
That expanding register reflects the practical effect of MiCA: firms seeking to retain access to the European market increasingly need authorisation from a national regulator and must operate under common rules on governance, custody, complaints handling, conflicts of interest and market conduct.
For exchanges and custodians, a MiCA licence can reduce the operational burden of navigating separate national regimes. It does not eliminate national obligations altogether. A firm relying on passporting must notify regulators of its intended cross-border activities and comply with applicable local requirements, including rules that may sit alongside MiCA in areas such as consumer law, taxation, anti-money-laundering controls and financial promotion.
Austria’s Financial Market Authority is the national competent authority responsible for supervising MiCA-regulated providers in Austria. Its authorisation gives MEGE zweite GmbH a regulated base from which to begin the notification process for other EEA markets.
European users may see changes in available products
For existing BingX users in Europe, the company’s local authorisation could lead to changes in account access, product availability and the entity serving their account as regulated services are introduced country by country. Platforms commonly separate customers by location when applying different regulatory permissions, particularly where a local subsidiary holds authorisation for spot trading and custody but does not hold permissions for every product offered globally.
The practical result is likely to be most relevant for customers who use features beyond straightforward buying, selling, storing and transferring crypto-assets. The MiCA-authorised entity’s stated services cover the basic infrastructure of a spot exchange, while products involving leverage or price exposure without direct asset delivery may be offered under different rules or may not be available through BingX EU.
Users should review notices from the platform about account migration, service terms and country-specific restrictions rather than assuming that all tools on an existing account will carry over to the European regulated service. The company has not announced a schedule for such changes.
BingX expands its European regulatory footprint
BingX said it was founded in 2018 and has more than 40 million users worldwide. It has also pursued high-profile commercial partnerships, including becoming Chelsea FC’s principal partner in 2024 and an official team partner of Scuderia Ferrari HP in 2026.
Those partnerships increase the brand’s visibility, but the Austrian authorisation places the company’s European operations under a different type of scrutiny. MiCA-regulated crypto-asset service providers are expected to meet requirements designed to protect client assets and improve disclosure standards, while regulators can supervise whether their operations remain within the activities granted by their licence.
MEGE zweite GmbH described its Oct. 20 release as a marketing communication under MiCA and said it was issued for informational and marketing purposes rather than as investment advice or a recommendation to enter an investment transaction.
The approval gives BingX EU a route to offer regulated custody, spot exchange and transfer services across the EEA, but its expansion will depend on how quickly passporting notifications are completed and how the company structures country-by-country access to products outside its stated MiCA permissions.
Explore how regulation shapes crypto platforms and traders’ rights in Europe with our guide on global crypto regulation.
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