According to the team’s statements shared with Bitcoin.com News, the license permits Bitget to operate a crypto exchange, trading, transfer, custody, and wallet services in Bulgaria, along with facilitating public offerings of digital assets.

The approval comes as the company prepares to comply with the EU’s Markets in Crypto-Assets (MiCA) framework, which aims to standardize crypto regulations across member states. Bitget stated the Bulgarian license is a strategic step toward broader EU access, calling the country a “gateway” for regional growth.

The firm told Bitcoin.com News that its goals for compliance with local regulations are central to its expansion, according to Bitget’s Chief Legal Officer Hon Ng. “The successful application of the VASP license in Bulgaria is a part of Bitget’s expansion strategy to serve users across the European Union,” the Biget executive said.

Ng further remarked that Bitget is prioritizing regulatory alignment globally, citing recent approvals in Poland, Italy, Lithuania, and the U.K. The exchange also secured a digital asset service license in El Salvador and partnered with Vietnam-based platform BiiEXC in recent months.

The company explained on Friday that it plans to collaborate with European regulators to ensure product compliance and user asset protection. Data from coingecko.com on Feb. 14 placed Bitget as the fifth-largest cryptocurrency exchange by trading volume, while coinmarketcap.com listed it in sixth position.

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