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

Traditional banks are rapidly increasing their footprint in Europe’s regulated crypto market. As of mid‑September, banks account for almost one‑quarter of all providers listed under the European Union’s Markets in Crypto‑Assets (MiCA) framework.

Growth in bank participation

The number of banks on the MiCA register rose from roughly 40 in late June to about 80 by September 16, according to data from the European Securities and Markets Authority (ESMA). Overall, the total count of crypto‑asset service providers (CASPs) grew from 243 to 349 in the same period.

Shift in provider composition

While non‑bank providers remain the majority, their relative share fell from around 84% to 77% as banks expanded faster, increasing their share from about 17% to nearly 23%.

German banks lead the expansion

Germany contributed significantly to the increase, with several cooperative and commercial banks joining the register. Notable entries include Deutsche Bank, which announced plans to launch digital‑asset custody services for institutional and corporate clients in Europe, expecting regulatory approval under MiCA in October. Regional institutions such as Volksbank, Raiffeisenbank and VR Bank also appeared, indicating broader adoption beyond large international banks.

Regulatory pathway for banks

Unlike crypto firms that must obtain CASP authorization, banks can enter the MiCA market through a separate notification procedure. Under Article 60 of MiCA, a credit institution may provide crypto‑asset services after submitting required information to its home regulator at least 40 working days before commencing the service.

Implications

The accelerated bank participation suggests a growing convergence between traditional finance and regulated crypto services in the EU, potentially increasing institutional access to digital assets.