Crypto custodian BitGo secures license from Germany’s BaFin to expand services in Europe

BitGo has secured a MiCA license from BaFin, enabling it to offer regulated crypto services across the European Union.

Cryptocurrency custodian BitGo has received a Markets in Crypto-Assets Regulation — also known as MiCA — license from Germany‘s Federal Financial Supervisory Authority, allowing it to offer crypto services across Europe.

In a Monday blog announcement, BitGo said the license was granted to BitGo Europe GmbH, its European entity established in 2023, which is already registered in several EU countries, including Italy, Spain, Poland, and Greece.

“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

Commenting on the license, BitGo said the European Union is a “global hub for digital asset innovation, driven by MiCA’s clear, harmonized approach to regulation,” and stated that the new rules have helped “accelerate institutional participation while increasing trust in the market.”

However, not everyone in the crypto industry shares BitGo’s view. Some still believe that MiCA could lead certain firms to shut down or merge as they seek greater scale to meet regulatory demands.

MiCA officially came into effect in late 2024, aiming to replace the previously fragmented regulatory landscape with a single set of rules across all 27 EU member states. According to analysts at TRM Labs, only 17 crypto businesses had received authorization under MiCA across seven EU countries, citing data from the European Securities and Markets Authority.