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America’s BitGo Sets Its Sights on EU Following MiCA Endorsement from Germany’s BaFin

May 12, 2025

BitGo, a prominent cryptocurrency custody service based in the USA, has earned a Markets in Crypto-Assets Crypto law (MiCA) license from BaFin, Germany’s financial supervisory authority. This regulatory achievement enables BitGo to deliver digital asset services to institutional clients—including banks, asset managers, and crypto-focused firms—throughout all European Union (EU) member countries under a cohesive legal framework.

Harald Patt, the managing director of BitGo Europe GmbH stated, “As a global frontrunner in digital asset infrastructure, regulatory crypto law is integral to our operations.”

“We take pride in obtaining our MiCA license from BaFin and anticipate aiding in the ongoing surge of crypto adoption across Europe,” he continued. “This license highlights our dedication to the utmost standards of security, transparency, and reliability.”

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Recent Strategic Moves By BitGo

In 2023, BitGo established its European headquarters in Frankfurt.

The company highlighted that the EU has quickly evolved into a global center for digital asset innovation, propelled by MiCA’s clear and coordinated regulatory framework. “From earning yield to stablecoins, the novel structure has expedited institutional engagement while fostering trust in the marketplace,” BitGo remarked.

Across the Atlantic, BitGo is getting ready to seek banking licenses in the US. According to the Wall Street Journal report dated April 21, 2025, among several crypto enterprises, BitGo is poised to benefit from the current US government’s favorable crypto approach.

In February 2025, the company unveiled a global over-the-counter (OTC) exchange for digital assets as it gears up for a potential initial public offering (IPO) within the year. The innovative platform aims to satisfy escalating institutional demand for spot, derivatives, lending, and yield-generating offerings across the crypto landscape.

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Key Takeaways

  • The MiCA license enables BitGo to function smoothly across all EU member nations. It removes the necessity for individual national approvals, simplifying legal and operational processes.

  •  The license was conferred by BaFin of Germany to BitGo Europe GmbH, which is based in Frankfurt and was established as BitGo’s European center in 2023.

The article America’s BitGo Targets EU After MiCA Approval From Germany’s BaFin first appeared on 99Bitcoins.

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