Bitget, the multinational crypto exchange and Web3 company, has registered as a Virtual Asset Service Provider (VASP) in Bulgaria. The milestone strengthens its presence in the regulated European Union crypto market and the company’s overall expansion strategy.
Bulgaria’s approval boosts compliance goals.
Bulgarian Financial Supervision Commission approved Bitget with the status of VASP based on the EU-aligned AMLD5. This justifies Bitget’s activities in Bulgaria and consolidates its regulatory transparency, adherence, and consumer security. Bitget is now among a small number of licensed platforms in the EU, which lends more credibility to the platform.
The Bulgarian registration comes after approvals from Lithuania, Poland, and Italy. This universal compliance strategy gives Bitget a strong position to leverage the Markets in Crypto-Assets Regulation (MiCA). Notably, MiCA will be fully enforced by 2026. Bitget’s first-mover advantage in dealing with the regulators provides a competitive advantage.
Compliance and innovation drive Bitget’s growth
The VASP status proves Bitget’s maturity level of operations. The exchange has more than 25 million users worldwide and provides spot and derivatives trading, staking, launchpads, and Web3 projects. It also observes strict KYC and AML standards and conducts constant system audits to ensure that users’ assets are secured.
Bulgaria is a perfect location because of its positive fintech market, EU membership, and affordable environment. The license fully legalizes wallet services, token custody, and crypto-fiat exchange, expanding service delivery to the EU.
Strengthening Web3 and institutional appeal
Outside of exchange offerings, Bitget is also extending its Web3 wings using grants, investments, and collaborations. The VASP licence increases Bitget’s authority in DeFi. Additionally, it enhances the platform’s attractiveness to regulators. This is because institutional investors, fintechs, and banks have shown strong interest in it.
Gracy Chen, a Managing Director, stated that the registration reflects the firm’s mission to provide crypto services securely and regulated throughout Europe. As MiCA looms, Bitget uses active regulation, a firm regulatory framework, and constant education campaigns. Consequently, it will become a giant in the emerging crypto environment in Europe.
As cryptocurrency trading continues to grow in the EU, Bitget is not only expanding: it is developing the concept of a compliant crypto-trading market.
