BitGo holds the distinction of being one of the first American crypto custodians approved under the unified European regulatory framework

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The license positions BitGo as one of the first American digital asset firms to gain recognition under the EU's Markets in Crypto-Assets (MiCA) framework, a unified regulatory system, rolling out crypto custody services for its institutional clients across the bloc this year.

BitGo joins the list of other brokerages with a MiCA license, including Crypto.com, Bitpanda, and OKX. Those exchanges were among the first to secure the license, as they were already mostly compliant with EU regulations. BitGo also noted that banks and fintech institutions were slow to gain MiCA license for crypto activities, giving crypto native companies a head start in offering services.