BitGo’s move creates further competition in a burgeoning European crypto market that is expected to generate $26 billion revenue this year, according to one estimate.
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BitGo, a digital asset infrastructure company with more than $100 billion in assets under custody, has an extension of its license from Germany’s Federal Financial Supervisory Authority (BaFin), enabling it to offer crypto services to European investors.
The company said its local subsidiary, BitGo Europe, can now provide custody, staking, transfer, and trading services. Institutional clients will also have access to an over-the-counter (OTC) trading desk and multiple liquidity venues.
The extension builds on BitGo’s previous license, also issued by BaFin, and adds trading to the existing custody, transfer and staking services. BitGo , which allowed it to offer certain services to traditional institutions and crypto native companies in the European Union.
Statista that cryptocurrency revenue in Europe will reach $26 billion this year, with Germany leading adoption in the region.
Tailwinds for the market include supportive regulatory frameworks such as MiCA, increased intermingling between crypto native companies and traditional finance institutions and deals that could augment consolidation.
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Institutional interest in crypto has increased in recent years as infrastructure has improved and crypto exchange-traded products (ETPs) have emerged, driving credibility to the sector.
That has been followed by regulations for crypto assets in places like Europe and the , with the United States .
Among Wednesday’s movers in the institutional crypto space is Bullish, a crypto exchange that caters to institutions. It paved the way for a US debut after from the New York State Department of Financial Services. On Tuesday, Standard Chartered’s venture capital arm revealed plans in 2026.
Annabelle Huang, co-founder of Altius Labs, told Cointelegraph that the as fintech companies, like Robinhood and Stripe, build their own blockchains.
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