BitGo, a Goldman Sachs-backed cryptocurrency custody company, has become the latest cryptocurrency company to gain regulatory approval to operate in the European Union.
Germany's Federal Financial Supervisory Authority, or BaFin, has granted BitGo Europe a Markets in Crypto-Assets Regulation (MiCA) license, allowing the company to offer digital asset services within the EU, as announced on May 12.
This license allows BitGo to provide services to both crypto asset companies and traditional financial institutions, such as banks and asset managers, throughout the EU.
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Harald Patt, CEO of BitGo Europe, said:
"This license underscores our commitment to the highest standards of security, transparency, and trust."