BitGo, a cryptocurrency custody firm backed by Goldman Sachs, has recently received regulatory approval to operate throughout the European Union. The news was announced on May 12, following the acquisition of a Markets in Crypto-Assets Regulation (MiCA) license from Germany’s Federal Financial Supervisory Authority (BaFin).
BitGo, a prominent player in the crypto industry, specializes in providing custodial services for digital assets such as Bitcoin on behalf of their clients. The MiCA license will enable BitGo to extend its services to crypto-based companies as well as traditional financial institutions, including banks and asset managers within the EU.
“This license underlines our dedication to maintaining the highest levels of security, transparency, and trust,” stated Harald Patt, Managing Director of BitGo Europe.
BitGo, established in Palo Alto, California, in 2013, has been making strides to expand its presence in the EU. This includes the establishment of BitGo Europe, headquartered in Frankfurt, in 2023. Since then, BitGo has received additional registrations in various EU countries, including Italy, Spain, Poland and Greece.
“With the acquisition of the MiCA license, BitGo can now operate across the entire EU under a unified, forward-looking regulatory framework,” the company announced.
BitGo has yet to disclose the specific services it plans to roll out under the new license. However, the firm has mentioned that it is expanding its product suite to offer a broad range of institutional-grade digital asset solutions.
As of May 12, BaFin’s official records did not reflect BitGo’s MiCA license, showing only earlier registrations. BitGo was approached for additional details, but has not responded as of the time of this report.
Germany has established itself as a key jurisdiction for European businesses seeking MiCA registration, with BaFin issuing licenses to several other companies, such as Bitpanda and Boerse Stuttgart Digital Custody, in 2025.
