Goldman Sachs-backed cryptocurrency custody firm BitGo is the latest cryptocurrency company to secure regulatory approval to operate across the European Union.Germany’s financial regulator, the Federal Financial Supervisory Authority (BaFin), granted BitGo Europe a Markets in Crypto-Assets Regulation (MiCA) license to provide digital asset services in the EU, the firm announced on May 12.The license allows BitGo to offer services to crypto-native firms and traditional finance institutions, including banks and asset managers within the EU.Source: BitGo“This license underscores our commitment to the highest standards of security, transparency, and trust,” BitGo Europe managing director Harald Patt said.BitGo set up the EU headquarters in 2023Founded in 2013 in Palo Alto, California, BitGo is a major platform in the cryptocurrency industry specializing in crypto custodial services, holding cryptocurrencies like Bitcoin (BTC) on behalf of its clients. BitGo’s latest regulatory milestone in Europe follows efforts to increase its presence in the EU, including establishing local headquarters in Frankfurt in 2023.Since setting up BitGo Europe in Germany, BitGo has received multiple registrations in EU states, including Italy, Spain, Poland and Greece.“With the MiCA license now secured, BitGo can operate across the entire EU under a unified, forward-looking regulatory framework,” the firm said in the announcement.“Broad range of institutional-grade solutions”BitGo did not specify the services it intends to roll out immediately under the new MiCA license.“BitGo’s MiCA licence comes at a pivotal moment as BitGo expands its product suite to offer a broad range of institutional-grade digital asset solutions,” the announcement added.Related: Tether CEO defends decision to skip MiCA registration for USDTAs of May 12, BaFin’s official records did not yet reflect BitGo’s MiCA license, showing only earlier registrations.BaFin data on BitGo’s registrations in Germany as of May 12, 2025, 8:30 am UTC. Source: BaFinCointelegraph approached BitGo for additional details on its MiCA license but did not receive a response by the time of publication.As previously mentioned, Germany has emerged as a major jurisdiction for European businesses seeking MiCA registration, with BaFin issuing licenses to several companies, including Bitpanda and Boerse Stuttgart Digital Custody, in 2025.Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight