Bitget, a leading cryptocurrency exchange, and Web3 company, has obtained a Virtual Asset Service Provider (VASP) license from Bulgaria’s National Revenue Agency, marking a significant step in its European expansion strategy.
The license grants Bitget the regulatory approval to offer cryptocurrency exchange, trading, transfer, custody, and public offerings of digital assets within Bulgaria. The approval also aligns with the company’s broader goal of securing compliance under the European Union’s Markets in Crypto-Assets (MiCA) framework, which aims to create a standardized regulatory environment for digital assets across the bloc.
Strategic Expansion and Regulatory Compliance
Bitget has positioned the Bulgarian VASP license as a key milestone in its efforts to expand across the European Union. The exchange has been actively securing regulatory approvals in multiple jurisdictions, including Poland, Italy, Lithuania, and the United Kingdom, as part of a broader push for compliance in major global markets.
“The successful application of the VASP license in Bulgaria is a part of Bitget’s expansion strategy to serve users across the European Union,” said Hon Ng, Chief Legal Officer at Bitget. “As the EU continues to lead with regulatory frameworks like MiCA, we see strong potential for sustainable growth and innovation in the region while maintaining compliance. Bulgaria serves as a strategic gateway for our European expansion, offering crypto-friendly ecosystems the chance to accelerate crypto adoption.”
Ng emphasized that Bitget remains committed to regulatory alignment, stating that the company has been investing in its compliance program from the outset. In addition to the recent approvals in Europe, Bitget also secured a digital asset service license in El Salvador and partnered with the Vietnam-based platform BiiEXC.
Market Position and Future Plans
Bitget’s regulatory approvals come at a time when the company is strengthening its presence in key global markets. Data from CoinGecko on February 14 placed Bitget as the fifth-largest cryptocurrency exchange by trading volume, while CoinMarketCap ranked it in sixth position. The exchange’s compliance efforts have also earned it recognition from Forbes as one of the most reliable cryptocurrency exchanges globally.
With the Bulgarian VASP license secured, Bitget now has the regulatory backing to offer a wide range of crypto-related services to users in the region. These include cryptocurrency-to-fiat conversions, secure digital asset transactions, custody solutions, and support for public token offerings. The exchange has also reiterated its commitment to working closely with European regulators to ensure its products meet compliance standards and prioritize user asset protection.
