EU Banks Now Make Up 23% of MiCA Crypto Providers After Doubling Since June

The share of banks listed as crypto-asset service providers (CASPs) on the European Securities and Markets Authority's (ESMA) MiCA register has nearly doubled since late June, climbing from roughly 17% to 23%. According to a Cointelegraph analysis, the number of banks on the list grew from around 40 on June 26 to approximately 80 by September 16, while the total number of registered CASPs rose from 243 to 349 over the same period. Non-bank providers still hold the majority share at 77%, down from about 84% earlier in the summer.

Germany is driving much of this banking expansion, with dozens of cooperative and commercial banks securing MiCA authorization. Deutsche Bank, Germany's largest lender, recently announced plans to launch digital asset custody services for institutional and corporate clients in Europe, with a spokesperson confirming the bank expects regulatory approval in October. Beyond the major banking groups, numerous Volksbank, Raiffeisenbank, and VR Bank institutions have also entered the register, indicating that regulated crypto services are spreading into Germany's regional cooperative banking network rather than remaining confined to large international lenders.

A key reason for banks' rapid adoption is a regulatory shortcut: under Article 60 of MiCA, credit institutions can begin offering crypto-asset services by submitting notification to their home regulator at least 40 working days in advance, bypassing the more rigorous CASP authorization process that standalone crypto firms must undergo. This lighter-touch pathway has allowed traditional financial institutions to scale their crypto offerings quickly, positioning banks as an increasingly significant force in Europe's regulated digital asset market.