TLDR
- BitGo Europe has received approval from BaFin to expand its regulated crypto trading services across the European Union.
- The firm will offer OTC trading and an electronic trading platform for digital assets and stablecoins in Frankfurt, Germany.
- BitGo aims to provide institutional investors with access to competitive prices and quality execution through top-tier liquidity sources.
- BitGo Europe has also received the MiCA license from BaFin, enabling it to offer regulated digital asset services throughout the EU.
- BitGo holds registrations in several European countries and has a Major Payment Institution license from the Monetary Authority of Singapore.
BitGo Europe GmbH has received approval from Germany’s Federal Financial Supervisory Authority (BaFin) to expand its services. The extension of the license will allow the firm to offer regulated crypto trading services across the European Union. These new services will be available in Frankfurt, Germany, and will include Over-the-Counter (OTC) trading and an electronic trading platform for digital assets and stablecoins.
BitGo and the New Plan for EU Investors
BitGo has received approval from BaFin to provide regulated crypto trading services to residents of the European Union. The company will offer services through its new trading platform and OTC trading desk. These offerings will cover a wide range of digital assets and stablecoins, providing institutional investors with more options.
With this expansion, BitGo is now competing with major crypto firms like Coinbase and Kraken, who have already established their services in Europe. The company’s OTC desk is designed to help institutional clients trade at competitive prices with quality execution. Additionally, BitGo’s high-performance electronic platform will offer spot trading for a variety of crypto assets.
The firm plans to attract investors by providing access to top-tier liquidity sources, such as market makers and exchanges. This enables BitGo to offer institutional investors an efficient and competitive trading environment. BitGo’s approach is expected to strengthen its position as a key player in the European crypto market.
BitGo Secures MiCA License for EU Operations
BitGo’s expansion follows its recent success in receiving the EU’s Market in Crypto Assets (MiCA) license from BaFin in May. This MiCA license allows BitGo to provide regulated digital asset services across the European Union. BitGo Europe GmbH Managing Director Harald Patt expressed pride in the achievement, noting that it reflects the firm’s commitment to high regulatory standards.
“Our MiCA license from BaFin reinforces our dedication to security, transparency, and trust in the European market,” Patt said.
This license further strengthens BitGo’s position in the region as the company continues to foster crypto adoption.
In addition to its activities in Germany, BitGo holds registrations in several other European countries, including Italy, Spain, Poland, and Greece. BitGo also holds a Major Payment Institution (MPI) license from the Monetary Authority of Singapore and has sought a Virtual Asset Service Provider (VASP) license in South Korea. Although it did not secure the VASP license in South Korea, BitGo formed strategic partnerships with SK Telecom and Hana Financial, both becoming significant shareholders in BitGo Korea.
