Banks Account for Nearly 1 in 4 EU MiCA Crypto Providers
Banks in Europe’s MiCA crypto market are surging as regulation opens doors. See how traditional lenders are gaining ground on the EU register.
Banks are expanding their role in Europe’s regulated crypto market, with traditional lenders now making up nearly one in four providers listed under the European Union’s Markets in CryptoAssets (MiCA) framework.
According to a Cointelegraph analysis of European Securities and Markets Authority (ESMA) data, the number of banks on the MiCA register rose to about 80 from roughly 40 between June 26 and Sept. 16, while the total number of cryptoasset service providers increased from 243 to 349.
Germany accounted for much of the growth, with several cooperative and commercial banks added to the register. Deutsche Bank also said it plans to launch digital asset custody services for institutional and corporate clients in Europe, pending regulatory approval.
Under MiCA, banks can notify regulators before offering crypto services instead of going through the full authorization process required for other crypto firms. This separate route has helped speed up bank participation in the sector.