BitGo expands MiCA-compliant ‘Crypto-as-a-Service’ to 30 EEA countries

BitGo has expanded its MiCA-compliant Crypto-as-a-Service (CaaS) across the European Economic Area (EEA), in line with the European Union’s (EU) Markets in Crypto-Assets Regulation (MiCA).

According to a report by Cointelegraph on the 3rd (local time), BitGo’s European entity, BitGo Europe (BitGo Europe GmbH), said it will provide API-based, regulatory-compliant digital-asset (cryptocurrency) custody, trading, and fiat on/off-ramp services across 30 EEA countries.

With the expansion, fintech companies and banks in Europe can directly integrate wallets, customer onboarding, and settlement services into their own platforms. The service includes multi-asset wallets and SEPA-based fiat payment rails.

BitGo said its custodial wallets are insured up to a limit of $250 million, and that it provides configurable security controls and 24/7 operational support. Partners can enable buying, selling, and custody of Bitcoin (BTC) and other supported digital assets within their existing interfaces, with settlement processed through BitGo’s infrastructure.

The service has previously been offered in the U.S. via BitGo Bank & Trust, and in Europe it is operated through BitGo Europe, a locally regulated entity.

Founded in 2013, BitGo has provided institutional investors with custody, wallets, staking, trading, financing, stablecoins, and settlement services. BitGo listed on the New York Stock Exchange on Jan. 22 under the ticker BTGO. According to Yahoo Finance, as of the 3rd the stock was at $10.20, down about 1.6% on the day and roughly 20% below its post-listing level.

Since MiCA took effect, the expansion of regulated custody infrastructure has been gaining momentum in Europe. Many banks are opting to work with specialist digital-asset firms rather than build in-house systems.

Deutsche Bank entered the digital-asset custody business in July through partnerships with Bitpanda’s technology unit and Swiss digital-asset infrastructure firm Taurus. Spain’s BBVA said in September it would support Bitcoin (BTC) and Ethereum (ETH) trading and custody services using Ripple’s institutional custody platform, citing MiCA compliance.

Clearstream, a Deutsche Börse group company, plans to offer institutional clients Bitcoin and Ethereum custody and settlement services through its subsidiary Crypto Finance AG. Standard Chartered also announced that after obtaining a license in Luxembourg in January, it would launch digital-asset custody services in Europe.