Regulated infrastructure partnership offers smaller European platforms alternative to license pursuit
BitGo Europe GmbH, a Germany-licensed Crypto-as-a-Service provider authorized by France’s AMF, has partnered with Warsaw-based Bielik.io to offer a compliance model for smaller European crypto platforms facing the July 1, 2026 expiration of MiCA’s transitional period.
Under the arrangement, Bielik.io outsources regulated functions including trading, deposits, and custody to BitGo Europe’s licensed infrastructure while maintaining its own customer-facing brand and user experience. BitGo Europe’s authorized services include custody, exchange of crypto-assets for funds and other crypto-assets, order execution, transmission, and transfer services.
The partnership reflects a structural shift in European crypto markets as the bloc’s Markets in Crypto-Assets Regulation (MiCA) moves from transition to enforcement. After July 1, entities without MiCA authorization must cease offering services in the EU. “After July 1, 2026, a Polish register entry will not authorize virtual-currency activity in Poland or abroad,” according to a Katowice notice issued by the Polish government.
Poland’s regulatory environment remains uncertain. The Polish president refused to sign a crypto-assets market act on May 15, 2026, leaving no formally designated Polish competent authority for certain MiCA functions. However, the Polish financial regulator UKNF confirmed that “MiCA-authorized CASPs from other member states may provide services in Poland under cross-border rules after notifying their home authority, and they do not need a physical presence in the host state.”
This cross-border framework enables the BitGo-Bielik model: a platform can rely on a licensed CASP in another member state rather than pursuing its own authorization. The arrangement sidesteps the high bar MiCA sets for CASP licensing. Lithuania’s transition from its national VASP regime to MiCA illustrates the gap: 370 companies declared crypto-asset services in Lithuania, but only 120 were actually operating based on revenue and financial activity. At the time of the statement, 30 companies had applied for CASP licenses in Lithuania.
ESMA, the European Securities and Markets Authority, has cautioned against certain outsourcing arrangements. “CASPs cannot outsource or delegate custody to entities that are not themselves authorized CASPs, and warned against arrangements routing EU clients through unauthorized third-country entities,” according to ESMA guidance. BitGo Europe’s AMF authorization addresses this constraint for EU-facing platforms.
The model does not eliminate regulatory burden entirely. Platforms using BitGo’s infrastructure remain responsible for customer onboarding and AML compliance at the front end. But by moving custody and trading infrastructure to a licensed provider, smaller platforms avoid the cost and complexity of pursuing independent CASP status before the July 1 deadline.
As of June 22, 2026, the crypto market capitalization stood at $2.15 trillion, with Bitcoin near $63,500 and USDT liquidity at $186 billion, according to CryptoSlate market pages.
Regulatory consolidation ahead
The BitGo-Bielik partnership is one model among several emerging as the July 1 deadline approaches. Whether other smaller European platforms adopt similar Crypto-as-a-Service arrangements, or pursue independent licensing, will shape custody and trading infrastructure concentration in the EU through 2026 and beyond.
