Banks Double EU MiCA Crypto Provider Share to 23%
Traditional banks have doubled their presence on the EU's regulated crypto provider list, reaching a 23% market share by mid-September.
Banks now account for nearly one in four crypto-asset service providers in the European Union. This share rose from 17% in late June to 23% by September 16.
The number of banks on the MiCA register doubled to approximately 80 from 40 over three months. Total registered providers increased from 243 to 349 during the same period.
German Banks Lead Expansion
Germany drove the majority of this banking growth. Dozens of cooperative and commercial institutions added their names to the ESMA register.
Deutsche Bank announced plans to launch digital asset custody services for institutional clients. The bank expects regulatory approval for this offering in October.
Regional networks such as Volksbank and Raiffeisenbank also expanded their participation. This shows crypto services are reaching beyond large international banks.
Regulatory Pathway Differs
Banks use a separate notification procedure to enter the market. They do not need full CASP authorization like other firms.
Article 60 of MiCA allows credit institutions to provide services after notifying their home regulator. This requires submission at least 40 working days before launch.
