US-based crypto custodian BitGo has become one of the first non-EU firms to secure a licence under the EU’s Markets in Crypto Assets (MiCA) directive.
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The licence, which was awarded by Germany’s Federal Financial Supervisory Authority (BaFin) will enable BitGo to expand its digital assets service across the EU.
BitGo opened its EU subsidiary in Frankfurt in 2023 and in that time it has gained regstration in Italy, Spain, Poland and Greece.
The EU launched the MiCA directive in 2024 as a way to regulate the rapidly growing digital assets and crypto market.
Currently crypto firms operating in Europe have until June 2026 to comply with MiCA rules.
“As a global leader in digital asset infrastructure, regulatory compliance is at the core of our business,” said Harald Patt, managing director of BitGo Europe GmbH.
“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.”
