Banks double on EU MiCA crypto provider list as share hits 23%

Banks have markedly increased their presence on the European Securities and Markets Authority’s MiCA register, according to a Cointelegraph analysis of ESMA data. Between June 26 and Sept. 16 the number of banks listed as crypto-asset service providers roughly doubled from about 40 to roughly 80, even as the overall number of registered CASPs climbed from 243 to 349.

The faster pace of bank additions changed the composition of the register: non-bank providers still outnumber banks in absolute terms, but their share fell from about 84% to 77% while banks’ share rose from around 17% to nearly 23%. The shift reflects faster relative growth among credit institutions than among traditional crypto firms during the period examined.

Germany accounted for much of the banking growth on the MiCA list, with numerous cooperative and commercial lenders — including many Volksbank, Raiffeisenbank and VR Bank entities — appearing on ESMA’s register. The expansion also includes larger groups: Deutsche Bank announced plans to offer digital-asset custody services for institutional and corporate clients in Europe and said it expects to receive MiCA-related regulatory approval in October.

Banks are able to enter the MiCA regime by notification rather than the standard CASP authorization route. Under Article 60 of MiCA, a credit institution that intends to provide crypto-asset services must submit required information to its home regulator at least 40 working days before commencing those services, providing a distinct, potentially faster path for traditional lenders to add regulated crypto offerings.