Congratulations , in the news today BitGo Wins EU-Wide Approval to Offer Crypto Services to Institutions
By [Mr Author], CryptoInvestar
US-based crypto custody firm BitGo has secured regulatory approval to expand its services across the European Union, becoming one of the first American companies to gain a license under the bloc’s new digital asset rules.
The approval, granted by Germany’s Federal Financial Supervisory Authority (BaFin), enables BitGo to provide crypto custody services to institutional clients throughout all 27 EU member states without the need for separate, country-specific licenses.
A Milestone in Europe’s Crypto Regulation Push
The move marks a significant milestone as Europe prepares to fully implement its Markets in Crypto-Assets (MiCA) framework the first comprehensive regulatory system for digital assets in the region.
MiCA, which aims to bring clarity and oversight to the rapidly growing crypto sector, establishes common rules for companies operating within the EU.
For firms like BitGo, it presents an opportunity to scale services across the bloc with a single regulatory approval.
“This approval underscores our commitment to the highest standards of security, transparency, and trust,” said Harald Patt, Managing Director of BitGo Europe, in a statement on Monday.
Building a European Footprint
BitGo has been steadily expanding its presence in Europe. In 2023, the company established its EU headquarters in Frankfurt, Germany, laying the groundwork for broader operations across the Eurozone.
Since launching its European subsidiary, the firm has already secured local registrations in countries such as Italy, Spain, Poland, and Greece.
Now, with BaFin’s license in hand, it can streamline its services under the unified MiCA regime.
BitGo joins a growing list of crypto firms seeking EU credentials ahead of the full implementation of the new regulations.
Other companies including US-based stablecoin issuer Circle and exchange platform Crypto.com have also pursued similar approvals in recent months.
Europe’s Evolving Crypto Landscape
The rollout of MiCA represents one of the most significant regulatory shifts for the global crypto industry, aiming to harmonize oversight and protect investors while fostering innovation.
For established players like BitGo, the framework offers both a challenge and an opportunity demanding strict compliance but opening doors to one of the world’s largest integrated markets.
As crypto firms position themselves to meet Europe’s new regulatory standards, BaFin’s approval of BitGo could set a precedent for how international digital asset companies navigate the continent’s evolving financial landscape.
