Goldman Sachs-backed cryptocurrency custody agency BitGo is the most recent cryptocurrency firm to safe regulatory approval to function throughout the European Union.
Germany’s monetary regulator, the Federal Monetary Supervisory Authority (BaFin), granted BitGo Europe a Markets in Crypto-Assets Regulation (MiCA) license to supply digital asset companies within the EU, the agency announced on Could 12.
The license permits BitGo to supply companies to crypto-native companies and conventional finance establishments, together with banks and asset managers inside the EU.
“This license underscores our dedication to the best requirements of safety, transparency, and belief,” BitGo Europe managing director Harald Patt stated.
BitGo arrange the EU headquarters in 2023
Based in 2013 in Palo Alto, California, BitGo is a significant platform within the cryptocurrency business specializing in crypto custodial services, holding cryptocurrencies like Bitcoin (BTC) on behalf of its purchasers.
BitGo’s newest regulatory milestone in Europe follows efforts to extend its presence within the EU, together with establishing local headquarters in Frankfurt in 2023.
Since organising BitGo Europe in Germany, BitGo has acquired a number of registrations in EU states, together with Italy, Spain, Poland and Greece.
“With the MiCA license now secured, BitGo can function throughout your entire EU underneath a unified, forward-looking regulatory framework,” the agency stated within the announcement.
“Broad vary of institutional-grade options”
BitGo didn’t specify the companies it intends to roll out instantly underneath the brand new MiCA license.
“BitGo’s MiCA licence comes at a pivotal second as BitGo expands its product suite to supply a broad vary of institutional-grade digital asset options,” the announcement added.
Associated: Tether CEO defends decision to skip MiCA registration for USDT
As of Could 12, BaFin’s official data didn’t but reflect BitGo’s MiCA license, exhibiting solely earlier registrations.
Cointelegraph approached BitGo for extra particulars on its MiCA license however didn’t obtain a response by the point of publication.
As beforehand talked about, Germany has emerged as a significant jurisdiction for European companies searching for MiCA registration, with BaFin issuing licenses to a number of companies, including Bitpanda and Boerse Stuttgart Digital Custody, in 2025.
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