America’s BitGo Targets EU After MiCA Approval From Germany’s BaFin

Guy Fawkes 2025.05.12 3 min read

USA born BitGo, a leading cryptocurrency custody provider, has secured a Markets in Crypto-Assets Regulation (MiCA) license from Germany’s financial regulator, BaFin. This regulatory win grants BitGo the ability to offer digital asset services to institutional clients-including banks, asset managers, and crypto-native firms-across all European Union (EU) member states under a unified legal framework.

Harald Patt, managing director of BitGo Europe GmbH said, “As a global leader in digital asset infrastructure, regulatory compliance is at the core of our business.”

“We are proud to receive our MiCA license from BaFin, and look forward to supporting the continued growth of crypto adoption in Europe,” he added. “This license underscores our commitment to the highest standards of security, transparency, and trust.”

BitGo has received a MiCA license from BaFin, marking a significant milestone in our European expansion.

This approval extends our digital asset services across the EU—supporting both crypto-native companies and TradFi institutions, including banks and asset managers, seeking a… pic.twitter.com/wuyf6P01kg

— BitGo (@BitGo) May 12, 2025

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Recent Power Moves By BitGo

In 2023, BitGo’s EU headquarters was established in Frankfurt in 2023.

The company noted that the EU has quickly become a global hub for digital asset innovation, driven by MiCA’s clear, harmonized approach to regulation. “From staking to stablecoins, the new framework has accelerated institutional participation while increasing trust in the market,” said BitGo.

On the other side of the pond, BitGo is preparing to apply for banking licenses in the US. According to the Wall Street Journal report dated 21 April 2025, among other crypto companies, BitGo isready to capitalise on the current US government’s pro-crypto stance.

In February 2025, the company launched a global over-the-counter (OTC) trading desk for digital assets as it prepares for a potential initial public offering (IPO) later this year. The new platform aims to meet growing institutional demand for spot, derivatives, lending, and yield-generating services across the crypto market.

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Key Takeaways

The MiCA license allows BitGo to operate seamlessly across all EU member states. It eliminates the need for separate national approvals and reducing legal and operational complexity.

The license was granted by Germany’s BaFin to BitGo Europe GmbH, which is headquartered in Frankfurt and established as BitGo’s EU base in 2023.

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