Crypto custodian BitGo secures MiCA license in Germany

BitGo, a Goldman Sachs-backed cryptocurrency custody firm, has obtained a Markets in Crypto-Assets Regulation (MiCA) license from Germany’s BaFin, allowing it to operate across the European Union. This significant regulatory approval, announced May 12, 2025, enables BitGo to offer its digital asset services to a wide range of clients, including crypto-native firms, banks, and asset managers throughout the EU.

Founded in 2013, BitGo specializes in providing secure cryptocurrency custody services, holding cryptocurrencies on behalf of its clients. The MiCA license represents a culmination of BitGo’s efforts to expand its European presence. In 2023, the company established its EU headquarters in Frankfurt, Germany, and subsequently secured registrations in several other EU member states, including Italy, Spain, Poland, and Greece.

BitGo’s managing director, Harald Patt, highlighted the company’s commitment to security, transparency, and trust, emphasizing the significance of this regulatory milestone. The license allows BitGo to operate under a unified regulatory framework across the entire EU, streamlining its operations and providing a consistent service offering.

While BitGo didn’t specify immediate service rollouts under the MiCA license, the announcement indicated plans to expand its product suite with a broader range of institutional-grade digital asset solutions. This expansion reflects a wider trend in the cryptocurrency industry, where firms are increasingly seeking regulatory compliance and aiming to cater to institutional investors.

As of May 12, 2025, BaFin’s official records hadn’t yet updated to reflect BitGo’s MiCA license, showing only previous registrations. However, BitGo’s announcement confirms the license’s issuance. Germany’s position as a leading jurisdiction for MiCA registrations is further solidified by this development, with BaFin having previously issued licenses to companies like Bitpanda and Boerse Stuttgart Digital Custody in 2025. The news underscores the growing maturation of the European cryptocurrency market and the increasing integration of digital assets into traditional finance.