European banks are rapidly taking their place in the regulated crypto market. Their number in ESMA’s MiCA register has increased from about 40 at the end of June to nearly 80 by September 16.
European banks are rapidly taking their place in the regulated crypto market. Their number in ESMA’s MiCA register has increased from about 40 at the end of June to nearly 80 by September 16. At the same time, the full register has grown from 243 to 349 providers. Banks now represent nearly 23% of the recorded players, compared to about 17% three months earlier.
The progress is rapid. On June 26, around forty banks were listed in the European register. By September 16, there were nearly 80, according to an analysis of data published by ESMA. Over the same period, the total number of crypto asset service providers increased from 243 to 349.
This increase comes at a time when Germany already counts 89 MiCA-approved crypto players. The country has established itself at the top of the European register and banks there are taking an increasingly visible role.
Non-banking players remain overwhelmingly in the majority. Their number has even continued to rise. Their relative weight has simply declined: about 84% of the register at the end of June, compared to 77% in September.
Banks are advancing faster. MiCA specifically covers the custody of digital assets, order execution, exchange of crypto-assets against traditional currencies, and certain advisory services. ESMA’s register allows you to see which institutions can provide these services and in which European countries.
In July, the register only listed 280 authorized crypto companies. It now shows 349. The arrival of banking institutions explains part of the difference.
Secure your cryptos with LedgerThis link uses an affiliate program.A good part of the increase comes from German banks. Deutsche Bank is among the new names. The country’s leading bank plans to launch its custody service for Bitcoin, Ether, USDC, and EURC for European corporate and institutional clients. It hopes to obtain the necessary regulatory approval in October.
Additionally, Deutsche Bank’s crypto custody service aims to launch before the end of 2026. However, the movement goes far beyond a single major bank.
The register now includes several Volksbank, Raiffeisenbank, and VR Bank institutions. These are often cooperative or regional banks, quite different from the profile of large international banks that started testing Bitcoin several years earlier.
This somewhat changes the picture of the European crypto sector. Services related to digital assets no longer rely solely on specialized exchanges. They also appear in banking networks already used daily by individuals and businesses.
Germany had 58 MiCA providers at the beginning of July. It now counts 89. The banking movement thus occurs amid a broader increase in authorizations in the country.
However, there is an important difference behind these figures. A typical crypto company must obtain authorization as a crypto asset service provider, or CASP. A bank already licensed as a credit institution does not start from scratch.
Article 60 of MiCA provides a notification procedure. A bank wishing to offer crypto asset services must submit the required information to its national authority at least 40 working days before starting this activity.
This facilitates the entry of already regulated banks. They remain subject to rules applicable to the services they provide, especially regarding the custody of clients’ assets. MiCA, for example, imposes mechanisms designed to protect clients’ property rights when crypto assets are held on their behalf.
The change is recent. At the beginning of July, the MiCA register counted only 280 authorized crypto companies. Two and a half months later, it counts 349, with nearly 80 banks. The figures do not reveal how many clients will actually use their new offers. They do show, however, that traditional institutions are now taking a much larger place in the European crypto infrastructure. Nearly one in four new entries on the MiCA register is now a bank. At the end of June, this was about one in six.
