BitGo approved for EU crypto services under MiCA regulation
By: thepaypers|2025/05/13 16:45:05
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The licence enables BitGo to offer digital asset services across EU member states through a single regulatory passport. The MiCA licence, granted to BitGo’s European entity, allows the company to provide custodial and related digital asset services to a range of clients, including crypto-native firms, banks, and asset managers operating within the bloc. BitGo becomes one of several companies to receive such approval in Germany, a jurisdiction that has emerged as an important regulatory hub for MiCA-related activity. Other firms previously licensed include Bitpanda and Boerse Stuttgart Digital Custody. Product expansion and future plans Though BitGo has not disclosed specific services it plans to introduce under the new licence, the firm indicated that the approval allows it to pursue further product expansion for institutional clients. A company representative noted that the licence reflects BitGo’s alignment with European regulatory standards and enables it to deliver compliant services across all EU countries. BitGo’s European operations were formalised in 2023, when the firm opened its EU headquarters in Frankfurt. Since then, the company has registered in multiple jurisdictions including Italy, Spain, Poland, and Greece, as part of its broader strategy to improve its footprint across the region. Founded in 2013 in Palo Alto, California, BitGo provides custody and security infrastructure for digital assets such as Bitcoin. The firm is backed by several institutional investors, including Goldman Sachs. In August 2024, BitGo received a Major Payment Institution licence from Singapore's MAS, allowing it to offer regulated payment token services. Before receiving the license, BitGo served users in Singapore and the Asia-Pacific region. The offering only included custody services from the US South Dakota Trust and hot wallets.
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