- BitGo can offer digital assets services to crypto-native firms, banks, and asset managers.
- The approval allows BitGo to have a robust presence across European countries.
Goldman Sachs-backed cryptocurrency custody firm BitGo announced that it had secured a Markets in Crypto-Assets (MiCA) license from Germany’s regulator, BaFin. The regulatory milestone allows the firm to offer digital asset services across Europe.
With the license, BitGo aims to serve both crypto-native companies and financial institutions, such as banks. This move also means that the digital asset infrastructure entity will operate across the EU under a unified regulatory framework.
Harald Patt, BitGo Europe’s managing director, said in a statement, “This license underscores our commitment to the highest standards of security, transparency, and trust.”
MiCA license aligns with BitGo’s strategy to expand its product offerings with a range of top-grade digital assets and credible solutions.
See Related: US Court Rules BitGo’s $100M Suit Against Galaxy Digital Can Proceed
MiCA License: What To Expect In The Crypto Market In Europe
According to industry experts, Europe’s MiCA regulation is a game-changer for the crypto market in Europe. The license will foster investor confidence as compliance is no longer optional.
Patrick Hansen, EU strategy Director at Circle, said, “The EU has a unique opportunity to position itself as a global hub for crypto innovation.” With the MiCA regulation, the European crypto market could expect more institutional players, placing it among the leading crypto hubs.