BitGo, a leading crypto custody firm backed by Goldman Sachs, has secured a Markets in Crypto-Assets (MiCA) license from Germany’s Federal Financial Supervisory Authority (BaFin). Announced today, this approval allows BitGo to offer secure digital asset services across all 27 EU countries, marking a major step in its European expansion.
EU Welcomes BitGo with MiCA License
BitGo’s journey to this milestone began in 2023 when it established its European headquarters in Frankfurt, Germany. Since then, the firm has worked to meet Europe’s strict regulatory standards, securing registrations in countries like Italy, Spain, Poland, and Greece. The MiCA license, a unified EU framework, now allows the platform to operate seamlessly across the region without needing multiple national licenses.
This license simplifies operations and cuts costs, making the firm a trusted player in Europe’s crypto market. For BitGo, this means expanding its institutional-grade custody and trading services, with analysts predicting that MiCA-compliant firms like BitGo could capture 60% of Europe’s institutional crypto flow by 2026.
Europe’s crypto-friendly shift, driven by MiCA’s clear rules since December 2024, has made the EU a global hub for digital assets, encouraging innovation while ensuring investor protection.
EU Opens Its Door to Other Crypto Firms
BitGo’s eyeing Europe’s crypto-friendly landscape is not an isolated development. For example, major exchanges like Coinbase and Kraken are reportedly pursuing MiCA licenses, which will enable them to tap into the EU’s unified market.
Binance, an industry heavyweight, has leaned on France’s progressive regulations to establish a European base, while Circle, a stablecoin issuer, has secured approvals to operate in multiple EU countries. These firms are drawn to MiCA’s clarity, which replaces fragmented national rules, making Europe a hotspot for crypto growth.
BitGo’s MiCA license is a major achievement that positions it as a leader in Europe’s booming crypto market. With a clear regulatory path, Europe seems to be rolling out the red carpet for more crypto exchanges, encouraging innovation and trust. As MiCA continues to shape the industry, more firms may be expected to join the EU’s digital asset revolution, strengthening its status as a global crypto leader.
