CoinInsight360.com logo CoinInsight360.com logo
America's Social Casino

CoinTelegraph 2025-05-12 08:48:49

Crypto custodian BitGo secures MiCA license in Germany

Goldman Sachs-backed cryptocurrency custody firm BitGo is the latest cryptocurrency company to secure regulatory approval to operate across the European Union. Germany’s financial regulator, the Federal Financial Supervisory Authority (BaFin), granted BitGo Europe a Markets in Crypto-Assets Regulation (MiCA ) license to provide digital asset services in the EU, the firm announced on May 12. The license allows BitGo to offer services to crypto-native firms and traditional finance institutions, including banks and asset managers within the EU. Source: BitGo “This license underscores our commitment to the highest standards of security, transparency, and trust,” BitGo Europe managing director Harald Patt said. BitGo set up the EU headquarters in 2023 Founded in 2013 in Palo Alto, California, BitGo is a major platform in the cryptocurrency industry specializing in crypto custodial services , holding cryptocurrencies like Bitcoin ( BTC ) on behalf of its clients. BitGo’s latest regulatory milestone in Europe follows efforts to increase its presence in the EU, including establishing local headquarters in Frankfurt in 2023. Since setting up BitGo Europe in Germany, BitGo has received multiple registrations in EU states, including Italy, Spain, Poland and Greece. “With the MiCA license now secured, BitGo can operate across the entire EU under a unified, forward-looking regulatory framework,” the firm said in the announcement. “Broad range of institutional-grade solutions” BitGo did not specify the services it intends to roll out immediately under the new MiCA license. “BitGo’s MiCA licence comes at a pivotal moment as BitGo expands its product suite to offer a broad range of institutional-grade digital asset solutions,” the announcement added. Related: Tether CEO defends decision to skip MiCA registration for USDT As of May 12, BaFin’s official records did not yet reflect BitGo’s MiCA license, showing only earlier registrations. BaFin data on BitGo’s registrations in Germany as of May 12, 2025, 8:30 am UTC. Source: BaFin Cointelegraph approached BitGo for additional details on its MiCA license but did not receive a response by the time of publication. As previously mentioned, Germany has emerged as a major jurisdiction for European businesses seeking MiCA registration, with BaFin issuing licenses to several companies, including Bitpanda and Boerse Stuttgart Digital Custody, in 2025. Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.