Bitgo receives Bafin Mica license and relies on EU expansion-TradingView News
The American crypto company Bitgo has reached an important regulatory milestone: The German Federal Financial Service Supervision (BaFin) has given the Frankfurt subsidiary Bitgo Europe GmbH a license in accordance with the EU Regulation “Markets in Crypto-Assets” (Mica). In the future, Bitgo will be entitled to offer institutional services in the field of digital assets throughout the European Union.
Bitgo is increasingly relating to the EU market
According to Bitgo's official press release, the license comes at a time when the European market is increasingly establishing itself as an attractive environment for regulated crypto activities. For the first time, the MICA regulation creates a uniform legal framework for providers of wallets, custody solutions and other cryptoba-based services. For Bitgo, this not only means legal certainty, but also a strategic basis for massively expanding its presence in Europe.
BitGo has received a MiCA license from BaFin, marking a significant milestone in our European expansion.
This approval extends our digital asset services across the EU—supporting both crypto-native companies and TradFi institutions, including banks and asset managers, seeking a… pic.twitter.com/wuyf6P01kg
Bitgo founded its European headquarters in Frankfurt in 2023. Since then, registrations have been followed in several EU member states, including Italy, Spain, Poland and Greece. With the new license, the company can now also address Tradfi players such as banks, investment companies and asset managers who are looking for regulated access to the crypto ecosystem.
So Harald Patt, the Managing Director of Bitgo Europe GmbH, commented as follows:
“As a worldwide leading company in the field of infrastructure for digital assets, compliance with regulations is the heart of our business. We are proud to maintain our mica license from Bafin and thus to gain a foothold in the European Union. This license underlines our commitment to meet the highest regulatory standards and at the same time promote trust and innovation in the field of digital assets. Looking forward to supporting the further growth of cryptocurrency in Europe. “
According to the company, Bitgo plans to target the product selection in Europe. In addition to cold wallet custody and staking solutions, the focus is also on commercial and processing services at an institutional level. Bitgo is thus positioning itself as a holistic infrastructure partner for digital assets.
Germany is one of the first EU countries to actively award mica licenses. The license now granted is likely to be an important building block to play a major role in the institutional crypto market in Europe.
This offers Bitgo
Bitgo is a US company founded in 2013 based in the California Palo Alto and is one of the leading providers of infrastructure in the field of digital assets. The company specializes in the custody of large stocks in cryptocurrencies and offers institutional customers such as funds, stock exchanges and banks a comprehensive selection of services-including cold wallet solutions, multi-signature technology, staking, trade and settlement.
Bitgo is considered a pioneer in the area of crypto custody and manages assets in billions. Since the takeover by Galaxy Digital in 2021 for around $ 1.2 billion, Bitgo has been pursuing a clear expansion strategy, also in the EU.
