Cryptocurrency custodian BitGo has officially secured a Markets in Crypto-Assets Regulation (MiCA) license from Germany’s Federal Financial Supervisory Authority (BaFin). This milestone enables BitGo to offer regulated crypto services across the European Union, marking a significant expansion of its operational footprint in Europe.
The announcement, shared in a blog post on Monday, confirms that the license has been granted to BitGo Europe GmbH, the company’s European subsidiary established in 2023. BitGo Europe is already registered in several EU countries, including Italy, Spain, Poland, and Greece, positioning it strategically to serve a broad European client base.
“BitGo is now well-positioned to serve both crypto-native companies and traditional financial institutions — such as banks and asset managers — looking to engage with digital assets through a secure, compliant infrastructure provider.” — BitGo
MiCA: A Gateway to Harmonized Regulation
The MiCA regulation, which officially came into effect in late 2024, aims to unify the previously fragmented regulatory landscape in Europe with a single set of rules across all 27 EU member states. MiCA sets standards for transparency, disclosure, authorization, and supervision of crypto transactions, which are intended to boost investor confidence and institutional participation in digital assets.
BitGo praised the European Union for its clear and harmonized regulatory approach, describing the region as a “global hub for digital asset innovation” that is helping to accelerate institutional adoption and increase market trust.
However, not everyone shares BitGo’s enthusiasm. Industry skeptics warn that MiCA’s strict regulatory requirements could pressure smaller firms to shut down or merge as they struggle to meet compliance demands. Despite these concerns, TRM Labs analysts noted that only 17 crypto businesses had received authorization under MiCA across seven EU countries, highlighting a cautious yet steady entry of firms into the regulated space.
BitGo’s Strategic Expansion in Europe
With the MiCA license, BitGo is poised to serve a growing demand for secure and compliant crypto services in Europe, particularly from banks, asset managers, and institutional investors. The firm’s established presence in key EU countries, along with its newly granted regulatory status, suggests a deepening commitment to regulated growth in the digital asset sector.
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