US-based crypto custodian BitGo has secured a license under the EU’s Markets in Crypto Assets (MiCA) directive, making it one of the first non-EU firms to do so. This license, issued by Germany’s Federal Financial Supervisory Authority (BaFin), allows BitGo to expand its digital asset services across the EU.
In 2023, BitGo established its EU subsidiary in Frankfurt, subsequently gaining registration in Italy, Spain, Poland, and Greece. The MiCA directive was launched by the EU in 2024 to regulate the rapidly growing digital assets and crypto market. Crypto firms operating in Europe have until June 2026 to comply with MiCA regulations.
Harald Patt, managing director of BitGo Europe GmbH, stated, “As a global leader in digital asset infrastructure, regulatory compliance is at the core of our business. We are proud to receive our MiCA license from BaFin and look forward to supporting the continued growth of crypto adoption in Europe. This license underscores our commitment to the highest standards of security, transparency, and trust.”