Banks Double Their Presence on EU MiCA Crypto Provider List as Their Share Hits 23%
As interest in crypto assets grows, traditional European banks are rapidly expanding their footprint in the European Union’s regulated crypto services market under the Markets in Crypto-Assets (MiCA) framework. The number of banks listed as crypto service providers doubled from about 40 to around 80 between late June and mid-September, increasing their share from approximately 17% to nearly 23%. During the same period, the total number of listed providers rose from 243 to 349, while the share of non-bank entities declined. German banks, including Deutsche Bank and numerous regional cooperative banks, have been particularly active, leveraging a streamlined notification process under MiCA to offer crypto services.
Growth of Banks on the EU MiCA List
An analysis of the MiCA register data from the European Securities and Markets Authority (ESMA) revealed that between June 26 and September 16 the number of banks offering crypto services and registered under the EU’s MiCA framework doubled from roughly 40 to 80. During the same period, the total number of crypto-asset service providers (CASPs) listed increased from 243 to 349. Consequently, banks' share among all registered providers rose from about 17% to nearly 23%, while the share of non-bank providers dropped from approximately 84% to 77%.
This data shows that banks are expanding their presence on the MiCA register significantly faster than other market participants. Although non-bank providers still lead in absolute numbers, their relative market share is shrinking due to the faster growth of banks on the list.
German Banks Drive Crypto Expansion
A key driver of this growing banking presence in the crypto market is the surge of German financial institutions appearing on the MiCA register. Notably, Deutsche Bank, Germany’s largest lender, announced plans to launch digital asset custody solutions targeted at institutional and corporate clients across Europe. A representative of Deutsche Bank told Cointelegraph that they expect to receive regulatory approval under MiCA for this offering in October.
In addition to Deutsche Bank, the register now includes numerous regional cooperative banks such as Volksbank, Raiffeisenbank, and VR Bank. This indicates that regulated crypto services are not just limited to large multinational banks but are also spreading into Germany’s broader regional banking network, demonstrating wider integration of crypto products into traditional banking.
Banks’ Alternative Entry Path into MiCA Market
Unlike crypto companies, which need to apply for CASP authorization to offer crypto services, banks have a different route under MiCA’s regulatory framework — a notification process.
Article 60 of MiCA stipulates that credit institutions can start providing crypto-asset services if they submit the required information to their home regulator at least 40 working days before commencing such services.
This notification mechanism allows banks to rapidly expand into crypto without undergoing the full, standard CASP authorization procedure. This streamlined process explains the swift increase in the number of banks appearing on the MiCA register.
Why it matters
This news is significant because it highlights that major traditional banks, often seen as conservative market participants, are now rapidly entering the EU-regulated crypto market. It reflects growing acceptance of crypto assets within the banking sector and the integration of digital services into the established financial ecosystem. The strong participation of German banks, especially regional cooperative institutions, demonstrates that MiCA regulation enables not just large banks but also medium-sized credit institutions to quickly develop crypto services. A crucial aspect is the streamlined notification path available to banks, bypassing the more lengthy authorization process and accelerating innovation adoption in European banking. Ultimately, this development boosts institutional and investor confidence in crypto products, fostering overall market growth.}
Prepared from the source material with AI-assisted editing and checked against the supplied facts.
Open original source ↗