Bullish secures BaFin licenses, eyes EU expansion under MiCA

Bullish Group, a leader in digital asset trading infrastructure, announced that its German subsidiary Bullish DE Custody GmbH has received the necessary licenses from Germany’s Federal Financial Supervisory Authority.

The approvals, granted on December 20, cover crypto asset custody, private trading and prime brokerage. According to the statement made by the company, these licenses allow Bullish DE to operate in Germany’s expanding digital asset market.

This milestone positions Bullish DE for wider European expansion under the CryptoAsset Markets Regulation coming into force in December 2024. MiCA streamlines regulatory requirements across the European Union by providing a unified framework for crypto businesses.

We are proud to announce that #Bull We took an important step in strengthening our position within the EU by obtaining licenses from BaFin in Germany.

— Bull (@Bullish) January 8, 2025

“Receiving BaFin’s approval underscores Bullish’s commitment to operating under the highest regulatory standards,” said Bullish CEO Tom Farley. “Germany’s position as a leading financial center and its rapidly growing digital asset market present a significant opportunity.”

Crypto for institutional and professional investors

According to the company’s statement, Bullish DE plans to use its BaFin licenses to offer specifically designed services to institutional and professional investors. This development could pave the way for further progress in the EU crypto market.

In February 2024, Switzerland-based Crypto Finance demonstrated a similar commitment to expanding in Europe by securing BaFin licenses. These licenses enable Crypto Finance to offer regulated services for digital asset trading, clearing and custody in Germany.