Goldman Sachs-backed cryptocurrency custody agency BitGo has develop into the most recent cryptocurrency firm to safe regulatory approval to function throughout the European Union.
Germany’s monetary regulator, the Federal Monetary Supervisory Authority (BaFin), granted BitGo Europe a Markets in Crypto-Belongings Regulation (MiCA) license to supply digital asset companies within the EU, the agency introduced on Could 12.
The brand new license permits BitGo to supply companies to each crypto-native corporations and conventional finance establishments, together with banks and asset managers throughout the EU.
“This license underscores our dedication to the best requirements of safety, transparency, and belief,” BitGo Europe managing director Harald Patt stated.
BitGo arrange the EU headquarters in 2023
Based in 2013 in Palo Alto, California, BitGo is a serious platform within the cryptocurrency business specializing in crypto custodial companies, holding cryptocurrencies like Bitcoin (BTC) on behalf of its purchasers.
BitGo’s newest regulatory milestone in Europe follows a variety of efforts to extend presence within the EU, together with establishing native headquarters in Frankfurt in 2023.
Since organising BitGo Europe in Germany, BitGo has acquired a number of registrations in a number of EU states, together with Italy, Spain, Poland and Greece.
“With the MiCA license now secured, BitGo can function throughout your complete EU underneath a unified, forward-looking regulatory framework,” the agency stated within the announcement.
“Broad vary of institutional-grade options”
BitGo didn’t specify the precise companies it intends to roll out instantly underneath the brand new MiCA license.
“BitGo’s MiCA licence comes at a pivotal second as BitGo expands its product suite to supply a broad vary of institutional-grade digital asset options,” the announcement added.
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As of Could 12, BaFin’s official information didn’t but mirror BitGo’s MiCA license, exhibiting solely earlier registrations.
Cointelegraph approached BitGo for extra particulars on its MiCA license however didn’t obtain a response by the point of publication.
As beforehand talked about, Germany has emerged as a serious jurisdiction for European companies looking for MiCA registration, with BaFin issuing licenses to a number of corporations, together with Bitpanda and Boerse Stuttgart Digital Custody, in 2025.
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