BitGo, which provides crypto storage and payment infrastructure, has risen to a remarkable position in the European crypto market with two separate licenses received from Germany’s financial regulator BaFin. The company obtained Electronic Money Token (EMT) payment services licenses within the scope of both MiCAR and PSD2/ZAG and received an authorization certificate to operate in accordance with the regulations of the European Union.
Importance of MiCAR and PSD2/ZAG Licenses
The MiCAR regulation established by the European Union for crypto asset service providers determines the main framework of standard compliance in the region. Recently, it seems that many platforms have experienced licensing difficulties regarding Electronic Money Tokens. Thanks to the two licenses BitGo received from BaFin, the company offers a safe and legal infrastructure, providing an advantage in EMT transactions, especially for companies in Germany.
It was reported that BitGo Europe received authorization from BaFin for EMT payment services under both MiCAR and PSD2/ZAG, thus creating a new standard in the regulatory framework.
Corporate Crypto Usage and Services
With these licenses, BitGo Europe can become a regulatory partner for institutions seeking MiCAR compliance. Services provided include secure custody, programmatic customer acquisition, and EMT transaction processing. In this way, the company fills the legal gaps for businesses that cannot obtain direct approval and enables them to enter the market faster.
Thanks to BitGo’s modular “Crypto-as-a-service” infrastructure, banks, fintech companies and corporate customers can integrate into the crypto ecosystem on their own platforms. This structure is based on the regulation and operational assurance offered by the company while meeting the transaction, storage and transfer needs of users.
Steps to Support Crypto Expansion in Europe
Additional authorizations under PSD2/ZAG strengthen BitGo’s capacity to offer fully compliant crypto services across Europe. The company enables reducing legal barriers and accelerating market access, especially for businesses managing EMT.
By combining MiCAR and PSD2/ZAG authorizations, BitGo Europe has set a new benchmark in legal infrastructure standards. In this way, companies can carry out safe and legally based digital asset transactions on their own platforms.
BitGo has also entered into a partnership with blockchain network Tempo, which develops payment infrastructure for institutions and financial institutions. This collaboration strengthens BitGo’s infrastructure role while expanding Tempo in the corporate payment space.
