Crypto Exchange BitGo Secures MiCA License, Expands to the EU

BitGo, a United States-based crypto custodian, has officially secured a full crypto license from Germany’s Federal Financial Supervisory Authority (BaFin). This move is a big step for BitGo, as it now positions the company to expand its reach across Europe under the new Markets in Crypto Assets Regulation (MiCA).

BitGo has been operating in Germany since 2023, offering digital asset custody services. With this new license, the company now fully meets Germany’s strict regulatory standards for handling crypto assets. This achievement strengthens its position among institutional investors, showing that it operates with strong security and transparency in the evolving crypto world.

Emphasising their dedication to crypto adoption in Europe, Harald Patt, Managing Director of BitGo Europe GmbH, said:

“We are proud to receive our MiCA license from BAFin, and look forward to supporting the continued growth of crypto adoption in Europe. This license underscores our commitment to the highest standards of security, transparency, and trust.”

MiCA License Paves the Way for EU-Wide Expansion

Since its launch, the firm has been registered in some countries, including Spain, Greece, Poland, and Italy. However, by securing the MiCA license, BitGo can now passport its services across over 27 European countries without needing to apply separately in each country. This new advantage makes it easier and faster for BitGo to offer custody services to clients in Europe.

BitGo now joins the ranks of other crypto firms that have also pushed deeper into the European market under MiCA. Circle became the first global stablecoin issuer to receive a MiCA license. This allows Circle to expand its stablecoin offerings across Europe. It also helps bring the stablecoin market to more audiences as crypto adoption grows.

In another report, the crypto exchange OKX was granted a MiCA license. This will enable OKX to offer crypto-regulated services across all 30 European countries and open the door for OKX to grow its presence across Europe while offering crypto services.