Bullish Group, a leading digital asset trading infrastructure company, announced that its German subsidiary, Bullish DE Custody GmbH, has obtained basic licenses from Germany's Federal Financial Supervision Authority.

The approvals, which were granted on December 20, cover crypto asset custody, proprietary trading and prime brokerage. These licenses Allows DE bullish to work inside Germany Expanding the digital asset market, according to a company statement.

This milestone positions Bullish DE for a broader European expansion into the Markets Regulation Framework for Cryptoassets, which came into force in December 2024. MiCA provides a unified framework for cryptocurrency companies, simplifying regulatory requirements across the EU.

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

Cryptocurrency for institutional and professional investors

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

In February 2024, Switzerland-based Crypto Finance Believer BaFin licenses, demonstrating a similar commitment to expansion within Europe. These licenses enable Crypto Finance to provide regulated services for digital asset trading, settlement and custody in Germany.