The final transition period for the EU’s Markets in Crypto-Assets Regulation (MiCA) will expire at the end of this month. With the transition period ending, crypto companies that have not completed their license conversion will face increased operational pressure. BitGo stated on Wednesday that it plans to offer a faster compliance access solution for the European market to help affected businesses continue operations.
BitGo Europe has been authorized by BaFin
The company disclosed that BitGo Europe, authorized by Germany’s Federal Financial Supervisory Authority (BaFin), can provide European crypto companies with MiCA-compliant custody and account infrastructure through its Crypto-as-a-Service platform. BitGo’s approach is not to obtain licenses on behalf of its clients, but rather to allow unlicensed entities to integrate into its compliant infrastructure, avoiding the need to build an entirely regulated business framework from scratch.
Customers can migrate to compliant sub-accounts.
Mike Belshe, CEO of BitGo, said that if an institution is still operating a wallet business but has not yet obtained a MiCA license, it can migrate its clients to sub-accounts under BitGo’s system, provided it has already completed customer identification and due diligence aligned with MiCA requirements.
According to him, these clients continue to be served, supported, and provided with product integration by the original institution; BitGo does not directly take over front-end client relationships, but the associated assets can be held in compliant, segregated custody accounts. This allows institutions to continue operations without immediately building out a full compliance infrastructure.
Companies can still apply for a CASP license.
BitGo also stated that eligible enterprises can continue to evaluate or pursue their own MiCA Crypto-Asset Service Provider (CASP) license applications after integrating with its infrastructure. This means that integrating with BitGo is more of a transitional arrangement rather than a replacement for the company’s long-term licensing strategy.
According to data from the law firm Hogan Lovells, as of May 2026, 194 authorized CASPs have been licensed in Europe, including some credit institutions. As national transition periods expire, approximately 75% of entities registered prior to MiCA’s implementation are expected to lose their existing registration status.
European-regulated entities face liquidation
Industry estimates show that, as of 2024, there are over 3,000 registered crypto companies in Europe, with more than 1,400 located in Poland alone. As MiCA is fully implemented, some companies unable to complete the transition may be forced to shut down operations, leading to a significant consolidation in the European crypto services market.
- The monthly minimum fee is approximately several thousand dollars.
- Fees can be adjusted based on trading volume.
- Billing methods include per-transaction fees and flat rates.
Belshi stated that regulators are aware of the compliance infrastructure services provided by BitGo. For institutions that have not yet obtained a license, whether they can find a viable compliance pathway before the transition period ends will directly determine whether they can continue operating in the European market.