BitGo, a crypto custody and payment infrastructure provider, has gained a significant foothold in the European crypto market by obtaining two separate licenses from BaFin, Germany’s financial regulator. With these new authorizations—covering both the MiCAR regulation and PSD2/ZAG framework for Electronic Money Token (EMT) payment services—the company is now fully empowered to operate in compliance with European Union regulations.
The Significance of MiCAR and PSD2/ZAG Licenses
The MiCAR regulation, designed for crypto asset service providers across the European Union, establishes a comprehensive standard for regulatory compliance in the region. In recent times, many platforms have struggled to obtain licenses for Electronic Money Tokens, facing regulatory hurdles that slow innovation and expansion. By securing dual authorizations from BaFin, BitGo can offer a trusted and legally compliant infrastructure, providing a considerable advantage to firms in Germany managing EMT transactions.
BitGo Europe has obtained BaFin authorization for EMT payment services under both MiCAR and PSD2/ZAG, setting a new regulatory benchmark in the industry, the company emphasized.
Institutional Crypto Adoption and Services
Armed with these licenses, BitGo Europe has positioned itself as a regulatory partner for organizations seeking full MiCAR compliance. Its suite of services includes secure custody, automated client onboarding, and processing for EMT transactions. Notably, BitGo bridges legal gaps for companies unable to obtain direct regulatory approval, accelerating their entrance into the market by offering turnkey, compliant solutions.
Through its modular “crypto-as-a-service” infrastructure, BitGo enables banks, fintech startups, and corporate entities to seamlessly integrate with the digital asset ecosystem on their own platforms. Relying on strong regulatory backing and operational safeguards, BitGo ensures client needs across transactions, asset custody, and transfers are met with efficiency and compliant assurance.
Advancing Crypto Adoption in Europe
Additional authorizations under the PSD2/ZAG framework have significantly enhanced BitGo’s ability to deliver fully compliant crypto services throughout Europe. By streamlining legal processes for businesses managing EMTs, BitGo helps reduce regulatory roadblocks and accelerates their market access, supporting broader industry adoption.
By uniting MiCAR and PSD2/ZAG authorizations, BitGo Europe is setting an elevated standard for legal infrastructure in the digital asset sector. This dual compliance enables firms to integrate secure, legally sound digital asset operations directly into their platforms, fostering greater trust and operational efficiency.
Further strengthening its presence, BitGo has partnered with blockchain network Tempo, which specializes in payment solutions for institutional clients and financial entities. This collaboration not only supports Tempo’s expansion in the enterprise payments segment but also reinforces BitGo’s standing as a key infrastructure provider in the European crypto landscape.
