BitGo Rolls Out MiCA-Compliant Platform for Struggling EU Firms

European crypto firms are scrambling to comply with the EU's Markets in Crypto-Assets (MiCA) regulation, which takes effect on July 1. According to Hogan Lovells, around 75% of pre-MiCA registered crypto firms could lose their registration status as transition periods expire.

BitGo has launched a MiCA-compliant Crypto-as-a-Service platform to help these firms continue operating in the EU. The company's German-regulated subsidiary, BitGo Europe, offers a regulated infrastructure that allows eligible businesses to integrate with its system while pursuing their own licenses.

Speaking about the service, BitGo CEO Mike Belshi said: 'All of your clients can be onboarded and have sub-accounts inside of BitGo. Now, they are your clients: you help them with support, you help them with all of the products, you do all that stuff, we don’t do any of that. But they are now in segregated safe storage that’s MICA-compliant. You can now go about your business.'