BitGo receives MiCA license in Germany
BitGo has secured a Markets in Crypto-Asset Regulation (MiCA) license from Germany’s BaFin, allowing the crypto brokerage to offer regulated digital asset services across the European Union.
This development positions BitGo alongside other MiCA-licensed entities like Crypto.com, Bitpanda, and OKX, granting it access to a broader market while adhering to stringent EU regulatory standards, reports Cryptopolitan.
Expansion of Custodial and Staking Services Across the EU
The MiCA license will be held by BitGo Europe GmbH, the company’s Frankfurt-based subsidiary established in 2023. With regulatory approvals already obtained in Italy, Spain, Portugal, Poland, and Greece, BitGo can now offer custodial wallets, self-custodial hot wallets, and staking services across multiple EU member states. The firm’s platform currently secures over $100 billion in assets, with $48 billion in staked assets, including top tokens like BTC, ETH, and SOL.
BitGo Eyes Institutional Market Amid Solana Push and FTX Distributions
Beyond regulatory compliance, BitGo has enhanced its service offerings by positioning itself as a prime Solana broker and top Solana custodial service provider. The firm is also set to distribute funds to FTX creditors in May, leveraging its established custody and staking infrastructure. This strategic positioning underscores BitGo’s broader objective to dominate both retail and institutional markets amid increasing regulatory clarity in Europe.
Recently we wrote that Coinbase, the largest centralized cryptocurrency exchange in the United States, has announced the launch of a new payment protocol called x402, which enables instant stablecoin transactions directly over HTTP.
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