Europe’s post-MiCA client migration now has its first clearly signposted route: MEXC has recommended MiCAR-authorised Bybit EU to Dutch customers before ending services in the Netherlands.
The arrangement does not transfer customer accounts or assets between the exchanges. Dutch users choosing Bybit EU must register, complete its identity checks and move their crypto themselves. MEXC will contact affected customers with instructions and timelines, according to the announcement.
“Partnering with Bybit represents an important step in ensuring a secure, compliant, and seamless transition for our users,” said Robert MacDonald, Chief Compliance Officer at MEXC.
He cited Bybit’s regulatory framework and user-protection measures as reasons for the recommendation.
MiCA Licence Provides the Handover Route
MEXC does not appear in ESMA’s latest register of authorised crypto-asset service providers. It therefore lacks the MiCA authorisation required to provide regulated crypto-asset services across the EEA after the applicable transition period.
A MiCA authorisation granted in one EU country can be passported across the EEA. Bybit EU’s approved services include custody, crypto-to-fiat and crypto-to-crypto exchange, placing crypto-assets and transfer services.
ESMA has identified two main routes for customers of unauthorised providers: transferring their assets to an authorised CASP, where one is identified, or moving them to a self-hosted wallet.
The MEXC arrangement follows the first route by naming Bybit EU as the recommended destination.However, the offboarding currently applies only to customers in the Netherlands.
Bybit EU has held a CASP authorisation from Austria’s Financial Market Authority since May 2025. Access to its global platform is being restricted, while the separately authorised Bybit EU entity continues serving the region through new, independently opened accounts.
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A Named Destination and Sign-Up Incentives
Other licensed exchanges have reported receiving customers from departing rivals without formal referral agreements.
In August, OKX Europe CEO Erald Ghoos told Finance Magnates that inflows from Binance-linked accounts had risen more than eightfold. OKX provided the figures, and no independent, market-wide breakdown was available.
MEXC, by contrast, has publicly selected Bybit EU as its recommended alternative. Eligible new customers can receive €30 in Bitcoin after topping up at least €100 within seven days, a seven-day VIP 1 trial with preferential fees and a Bybit Card package worth up to €120.
Affected users are encouraged to move their assets by 31 October. MEXC’s final offboarding date for customers in the Netherlands is 16 November 2026.
