BitGo Secures MiCA License, Expands EU Crypto Services

BitGo, a leading provider of digital asset infrastructure, has secured a significant regulatory milestone by obtaining a Markets in Crypto-Assets Regulation (MiCA) license from the German Federal Financial Supervisory Authority (BaFin). This approval enables BitGo to extend its regulated crypto services across all 27 member states of the European Union, marking a pivotal step in its European growth strategy.

The MiCA license was granted to BitGo Europe GmbH, the company’s European division established in Frankfurt in 2023. BitGo Europe has already registered in several EU countries, including Italy, Spain, Poland, and Greece, positioning it well to serve a broad range of clients in the region. Managing Director Harald Patt of BitGo Europe GmbH emphasized the company’s commitment to meeting the highest regulatory standards, stating that the BaFin MiCA license enhances BitGo’s footprint in the EU and supports the region’s increased adoption of digital assets.

The MiCA regulation, effective throughout the EU since December 2024, provides a unified legal framework for crypto assets, including stablecoins, exchanges, and custodial services. It aims to promote innovation while enhancing consumer protection, transparency, and market integrity. BitGo’s approval under MiCA makes it one of the first U.S.-based crypto custody providers to achieve such recognition in the EU, allowing it to offer its institutional-grade services to both crypto-native companies and traditional financial institutions.

BitGo’s strategic expansion in Europe began with the establishment of BitGo Europe GmbH in 2023, followed by a focus on regulatory compliance and market growth. The BaFin license leverages BitGo’s existing registrations in various EU jurisdictions, enabling it to operate under a single set of rules across the bloc. This harmonized regulatory approach has made the EU a primary hub for crypto innovation, attracting more institutions with its clear and consistent regulatory framework.

BitGo’s suite of services includes custody, trading, financing, settlement, wallet staking, and other solutions via regulated cold storage. With over a decade of operation, BitGo processes a significant share of Bitcoin network transactions and is recognized as the largest independent digital asset custodian globally. The company’s technology stack, featuring multi-signature controls and insurance cover, ensures the security of digital assets. The Go Network provides secure settlement and delivery across multiple exchanges, offering robust security features for institutional clients.

BitGo’s European expansion is supported by its strong leadership, including Brett Reeves, who leads European sales efforts and directs the Go Network. Reeves’ extensive banking experience in both crypto and traditional finance enhances client trust and market growth. Strategic partnerships with banks, asset managers, and exchanges further bolster BitGo’s European presence, offering integrated infrastructure for custody, trading, and settlement. These partnerships support large-scale operations and risk management, making BitGo a preferred choice for digital asset services.

By expanding its licensing and infrastructure, BitGo is solidifying its role in Europe’s digital finance landscape. Its multi-jurisdictional model and robust technology provide a unique edge, allowing it to navigate the evolving regulatory environment with confidence. As market dynamics and rules continue to evolve, BitGo’s structured approach offers stability, making it a reliable partner for institutions seeking long-term strategic planning. The company’s example may guide others seeking legal certainty across European borders, setting a new standard for institutional asset support in the digital finance sector.