BitGo Holdings, Inc. (NASDAQ) stock rose in Thursday’s premarket session as the company expanded its regulated crypto infrastructure offering in Europe.
Launches MiCAR-Compliant CaaS Platform
BitGo said its subsidiary, BitGo Europe GmbH, has launched a Markets in Crypto-Assets Regulation (MiCAR)-compliant Crypto-as-a-Service platform for eligible virtual asset service providers (VASPs), fintechs and digital asset platforms across the European Economic Area.
The launch comes as legacy national VASP registration regimes are phased out under MiCAR. The transition is especially important for crypto firms in Poland and Lithuania, where businesses are moving to the EU’s harmonized licensing framework.
BitGo Europe, which is authorized by Germany’s Federal Financial Supervisory Authority (BaFin), said its platform provides regulated custody, trading, transfer, wallet infrastructure, onboarding, KYC, SEPA payment rails and insurance coverage of up to $250 million for custodial wallets, subject to terms and conditions.
“MiCAR is raising the standard for digital asset businesses across Europe, and many VASPs now need a practical way to adapt without disrupting their customers,” said Jody Mettler, COO of BitGo.
Recent Buyback Program
BitGo recently announced a $50 million share repurchase program, equal to about 8% of its Class A shares outstanding. CFO Ed Reginelli said …
