BitGo Secures MiCA License from BaFin to Operate Across European Union

Highlights:

• BitGo has moved into the European Union market through a license that will allow it to operate in the member states.
• BitGo expands in Europe after opening its Frankfurt headquarters and gaining local approvals in key EU countries.
• The entity plans to serve both crypto firms and financial institutions across the EU under one common framework.

BitGo Europe, a regional branch of the parent company BitGo, has received a MiCA license from the Federal Financial Supervisory Authority of Germany (BaFin). The license allows it to operate across all member states of the European Union (EU). The license gives BitGo the right to offer digital asset services to both crypto-native businesses and traditional financial institutions in the EU. These include banks, asset managers, and other financial service providers.

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

The company stated that the license reflects its focus on maintaining strong security, transparency, and trust across its operations. 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.”

BitGo, established in 2013 in Palo Alto, provides safe storage services for digital currencies, including Bitcoin. It operates as a digital asset custodian to its customers while offering premium services to companies around the world.

Frankfurt Headquarters Supports Regional Expansion

BitGo has taken several steps to enter the European market. The company established its European headquarters in Frankfurt, a central German city on the river Main. Later, BitGo gained local authorizations in various countries of the EU. Among these countries are Italy, Spain, Poland, and Greece.

The issuance of the MiCA license enables BitGo to offer its services on a cross-EU basis. Consequently, the company no longer needs to adhere to varying regulations in the individual member states. It also allows for easier expansion and greater access to new clients throughout the region.

BitGo confirmed the license in a public statement. However, BaFin’s official records had not yet been updated as of today. They still listed the firm’s previous national registrations. The company did not reveal which specific services it plans to launch first under the MiCA license. The Federal Financial Supervisory Authority of Germany has approved MiCA licenses for other companies this year. This movement proves an essential role the country has in determining access to the European crypto market.

Global Expansion of BitGo and Other Exchanges’ Moves

The global strategy of the company focuses on going beyond European borders. BitGo has established affiliate offices in Singapore in order to increase its power in the Asia-Pacific region. In August, BitGo received a Major Payment Institution License from the Monetary Authority of Singapore. The country is developing into an important center for digital financial services in Asia.

Meanwhile, Bitpanda also received a license under the MiCA from BaFin. This made it the first major crypto company to reach this milestone. The license enables Bitpanda to conduct its services unhindered in all 27 EU member countries under one legal framework.

In a related development, BaFin recently barred Ethena from issuing a USD-pegged stablecoin, USDe, under MiCAR. It also ordered Ethena GmbH to stop the public offering of USDe in Germany and instructed custodians to freeze the reserve assets of the token.