Key Takeaways
- The license enabled Bitgo to engage with both traditional financial institutions and crypto-native clients in the EU.
- BitGo’s current infrastructure secures over $100 billion in digital assets, including $48 billion in staked holdings
Leading crypto custody firm, BitGo has received regulatory approval from Germany’s Federal Financial Supervisory Authority (BaFin) to operate under the Markets in Crypto-Assets Regulation (MiCA) framework across EU. This license permits the Frankfurt-based firm to deliver digital asset services across the European Union.
The authorisation positions BitGo among the earliest recipients of the MiCA license, alongside companies like Crypto.com, Bitpanda, and OKX. The license enables the exchange to engage with both traditional financial institutions and crypto-native clients in the EU.
BitGo’s European subsidiary, established in 2023, can now scale its custody, staking, and wallet services under a unified regulatory regime. The firm has already met compliance requirements in Italy, Spain, Portugal, Poland, and Greece. BitGo’s current infrastructure secures over $100 billion in digital assets, including $48 billion in staked holdings
The company confirmed its intention to use the license to support institutional clients, including banks and asset managers, that require regulated crypto exposure within the EU. BitGo did not disclose a timeline for specific service launches under the MiCA license.
Recently, BitGo has enhanced its Solana offerings and secured a role in the distribution of funds to FTX creditors. The firm has been positioning itself as a key player in institutional custody and brokerage services.
Harald Patt, managing director of BitGo Europe GmbH, described the license as a significant step toward building long-term trust in digital finance. He emphasized that regulatory oversight is integral to the company’s infrastructure model.
“This licence underscores our commitment to meeting the highest regulatory standards while fostering trust and innovation in the digital asset space. We are excited to support the continued growth of crypto adoption in Europe”, he said