Update (May 13, 1:45 pm UTC): This article has been updated to add a comment by a BitGo spokesperson.
Goldman Sachs-backed cryptocurrency custody firm BitGo is the latest cryptocurrency company to secure regulatory approval to operate across the European Union.
Germany’s financial regulator, the Federal Financial Supervisory Authority (BaFin), granted BitGo Europe a Markets in Crypto-Assets Regulation (MiCA) license to provide digital asset services in the EU, the firm announced on May 12.
The license allows BitGo to offer services to crypto-native firms and traditional finance institutions, including banks and asset managers within the EU.
“This license underscores our commitment to the highest standards of security, transparency, and trust,” BitGo Europe managing director Harald Patt said.
BitGo set up the EU headquarters in 2023
Founded in 2013 in Palo Alto, California, BitGo is a major platform in the cryptocurrency industry specializing in crypto custodial services, holding cryptocurrencies like Bitcoin (BTC) on behalf of its clients.
BitGo’s latest regulatory milestone in Europe follows efforts to increase its presence in the EU, including establishing local headquarters in Frankfurt in 2023.
Since setting up BitGo Europe in Germany, BitGo has received multiple registrations in EU states, including Italy, Spain, Poland and Greece.
“With the MiCA license now secured, BitGo can operate across the entire EU under a unified, forward-looking regulatory framework,” the firm said in the announcement.
License enables custody services and staking
The scope of BitGo’s services under its MiCA license from BaFin will be limited to cryptocurrency custody and staking.
“BitGo’s German entity is only regulated for custody and staking, so this means that BitGo Europe GmbH can provide custody and staking of digital assets under BaFin and MiCA,” a spokesperson for BitGo told Cointelegraph.
Related: Tether CEO defends decision to skip MiCA registration for USDT
As of May 12, BaFin’s official records did not yet reflect BitGo’s MiCA license, showing only earlier registrations.
In the announcement, BitGo mentioned that the firm intends to expand its product suite to offer a “broad range of institutional-grade digital asset solutions.”
As previously mentioned, Germany has emerged as a major jurisdiction for European businesses seeking MiCA registration, with BaFin issuing licenses to several companies, including Bitpanda and Boerse Stuttgart Digital Custody, in 2025.
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