BitGo Achieves Milestone: Secures EU Crypto Custody License for Enhanced Digital Asset Protection
BitGo, a prominent player in the digital assets sector, has recently achieved a significant milestone by obtaining a license from Germany’s Federal Financial Supervisory Authority (BaFin). This MiCA license will allow BitGo to enhance its digital asset services throughout the European Union (EU).
Expansion of BitGo’s Services in Europe
In 2023, BitGo established its EU subsidiary in Frankfurt, marking a pivotal step in its European operations. Since then, the company has successfully registered its services in various countries, including:
- Italy
- Spain
- Poland
- Greece
The MiCA Directive and Its Importance
The EU introduced the MiCA directive in 2024 to effectively regulate the rapidly evolving digital assets and cryptocurrency market. This regulatory framework is crucial for ensuring that crypto firms operate within established guidelines.
Currently, all crypto businesses operating in Europe must adhere to the MiCA regulations, with a compliance deadline set for June 2026. This timeline provides firms with adequate time to align their operations with the new rules.
BitGo’s Commitment to Compliance and Security
Harald Patt, managing director of BitGo Europe GmbH, expressed enthusiasm about the recent license acquisition. He stated, “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. This license underscores our commitment to the highest standards of security, transparency, and trust.”
For more information about the MiCA directive and its implications for the crypto market, you can visit the official EU website on MiCA regulation.
This milestone reflects BitGo’s dedication to fostering a secure and compliant digital asset environment in Europe, ultimately contributing to the broader adoption of cryptocurrencies.
