More than 3,000 crypto firms were registered across Europe before MiCA, yet only 194 had secured authorization by May 2026, and BitGo has now introduced a compliance service designed to help firms continue operating as the EU’s licensing deadline takes effect.
Summary
- BitGo has launched a MiCA compliant Crypto as a Service platform for European crypto firms facing the EU licensing deadline.
- Hogan Lovells estimates that around 75% of pre MiCA registered crypto firms could lose their registration status as transition periods expire.
- BitGo CEO Mike Belshi said firms can use the company’s regulated infrastructure while continuing to pursue their own MiCA licenses.
According to a Wednesday announcement from BitGo, its German-regulated subsidiary, BitGo Europe, is offering a Crypto-as-a-Service platform that allows crypto companies to access MiCA-compliant infrastructure without building their own regulated operating framework from scratch.
The launch comes as the European Union enters a new phase of crypto regulation. From July 1, firms that have not obtained authorization under the Markets in Crypto-Assets framework can no longer legally provide crypto services to customers in the bloc.
The European Securities and Markets Authority has previously stated that companies operating without approval after the deadline would be in breach of EU law and should implement orderly wind-down plans.
BitGo said eligible businesses can integrate with its infrastructure while continuing to pursue their own Crypto Asset Service Provider licenses if they choose. Through the arrangement, firms can keep managing customer relationships and products while using BitGo’s regulated custody and wallet infrastructure.
Speaking in an interview, BitGo chief executive officer Mike Belshi said companies that currently operate wallets but do not hold MiCA authorization can migrate customer accounts into BitGo’s system, provided they complete the required MiCA-related know-your-customer procedures.
“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.”
For firms considering BitGo’s service, Belshi said pricing depends on the products being used. According to him, customers pay a monthly minimum fee that can scale with business volume, while alternative plans allow companies to choose either transaction-based pricing or fixed-fee structures.
MiCA deadline leaves many firms without authorization
Recent industry estimates have highlighted the scale of the transition. Law firm Hogan Lovells reported that Europe had more than 3,000 registered crypto businesses in 2024, with Poland alone accounting for over 1,400 registrations.
By May 2026, however, only 194 authorized CASPs, including credit institutions, had been approved under MiCA. Hogan Lovells estimated that around 75% of firms operating under pre-MiCA registrations could lose their status as national transition periods expire.
Across the bloc, regulators have warned firms to either obtain authorization or prepare to cease operations. France’s financial regulator AMF said only authorized providers can serve French customers after the deadline, while ESMA has advised companies without approval to assist users in transferring assets to licensed providers or self-hosted wallets.
Against that backdrop, Belshi argued that companies should not be forced out of business solely because they have not yet secured their own MiCA licenses. He said regulators are aware of BitGo’s compliance-focused infrastructure offering and its role in helping firms meet regulatory requirements.
Questions around MiCA authorization have also affected some of the industry’s largest players. For instance, crypto.news reported that Binance’s MiCA application in Greece was expected to face rejection, a development that could have affected the exchange’s ability to serve customers across the European Union under MiCA’s passporting system.
Binance maintained at the time that it had satisfied the necessary requirements and had received no formal indication that its application would be denied.
