Bullish Secures Full MiCAR License from Germany’s BaFin

Berlin’s Federal Financial Supervisory Authority (BaFin) has granted digital asset platform Bullish a full Markets in Crypto-Assets Regulation (MiCAR) license, effective September 5, 2025. The authorization enables Bullish Europe GmbH, the firm’s German subsidiary, to offer regulated crypto trading and custody services across the European Union, marking a strategic expansion into institutional markets.

The license upgrades Bullish’s previous "grandfathered" status under BaFin custody, aligning its Frankfurt-based operations with MiCAR’s framework for consumer protection and financial stability. Chris Tyrer, Bullish Exchange President, cited Europe’s position as the world’s second-largest cryptoasset economy, noting escalating institutional demand for transparent trading venues. Marco Bodewein, Managing Director of Bullish Europe, underscored the credibility conferred by operating under a stringent regulatory regime.