Crypto custody provider BitGo said it secured approval from Germany’s financial regulator, BaFin, to expand into regulated crypto trading.

The license extension allows Frankfurt-based BitGo Europe to offer both over-the-counter trading and an electronic trading platform for thousands of digital assets and stablecoins, the firm said in a Wednesday press release.

Earlier this year, BitGo agreed with custody specialist Copper on an expanded "in-custody" trading network that aims to onboard major exchanges so that assets can be traded while held within a regulated custody ring-fenced environment. Crypto exchanges Coinbase and Kraken also offer trading platforms and custody in the region.

The approval builds on BitGo’s May 2025 Markets in Crypto-Assets (MiCA) license, adding trading to its existing custody, staking and transfer services. Institutions can now source liquidity from market makers and exchanges through BitGo’s platform, with custody services tied into the firm’s MiCA-compliant cold storage.

For a European pension fund or asset manager weighing an entry into crypto, the shift could reduce friction. Rather than opening separate accounts with multiple exchanges and custodians, they could trade and settle within BitGo’s regulated system while keeping assets secure in cold storage.

“Institutions need deep liquidity and reliable execution, but they also need the assurance of regulatory oversight,” said Brett Reeves, BitGo’s head of European sales. “We’re aiming to provide both in one place.”

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