BingX has secured a MiCA license through its Austrian subsidiary, MEGE zweite GmbH, clearing a regulatory step toward offering cryptocurrency services in 29 European Economic Area (EEA) countries.
Austria's Financial Market Authority (FMA) confirmed the approval on October 14, one day after granting authorization under the Markets in Crypto-Assets Regulation (MiCA).
BingX MiCA license covers four crypto services
The FMA authorized MEGE zweite GmbH, which operates as BingX EU, to provide four cryptocurrency services. These include holding and managing customers' digital assets, exchanging crypto for conventional money, swapping one crypto asset for another, and transferring tokens for clients. The regulator identified the company by registration number FN 666009a.
However, the approval does not cover every activity available on BingX's global exchange. The FMA's notice does not list operating a crypto trading platform, giving investment advice or managing customer portfolios among its approved services. It also does not establish authorization for leveraged derivatives trading. BingX EU would need to satisfy separate requirements before offering activities outside its permission.
BingX announced the license on October 14 and linked it to plans for serving individual and institutional customers in Europe.
Daniel Lai, chief executive of BingX EU, said the company's priority was to offer European users a “trusted and locally regulated trading experience.” He added that MiCA would provide a common framework for operating under European standards for security and accountability.
BingX targets 29 European markets through passporting
The company plans to offer its approved services across 29 EEA countries. However, the Austrian license alone does not mean those services are already available throughout the region. BingX EU must complete the required cross-border notifications before it can begin operating in its intended markets.
Under MiCA Article 65, a licensed provider must tell its home regulator which countries it intends to serve, what services it will provide and when operations are expected to begin. The home regulator then has 10 working days to forward that information to the relevant authorities.
The European Securities and Markets Authority (ESMA) explains that a provider can begin cross-border services once its regulator confirms that it sent the notification, or by the fifteenth calendar day after submission.
MiCA passporting allows firms to serve participating markets without seeking a separate full license in each country. However, it applies only to activities covered by their existing authorization and does not automatically extend their permitted services.
BingX EU has not confirmed that it has completed the process for all 29 markets. It has also not published a launch date, initial country list or details of which assets customers will be able to trade.
Austrian approval follows EU licensing deadline
BingX first disclosed its Austrian application in June 2026. The exchange described the review as advanced but cautioned that it had not yet obtained a license. The October approval confirms that the regulator has since completed its assessment of the Austrian entity.
The decision follows the July 1, 2026, end of the EU's maximum transition period for crypto service providers. Under MiCA, firms generally need the appropriate authorization to continue providing regulated services in the bloc. The rules also impose requirements on customer-asset protection, governance and business conduct.
The license applies to BingX EU rather than automatically extending to other companies within the exchange's global business.
In its announcement, the subsidiary said it would continue working with the FMA and other European regulators as it prepared to launch. The company has not identified which of its 29 targeted markets will receive services first.
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