Germany Holds 89 Crypto Licenses as UK Framework Waits
Germany has secured 89 MiCA licenses, capturing 25.5% of the European registry. This expansion outpaces the UK, where applications will not open until September 2026.
Germany holds 89 authorized crypto service providers under the MiCA framework. This figure represents 25.5% of the total entries in the ESMA European registry. The count rose from 58 at the start of July to 89 by early September. This marks an increase of more than 50% in just over two months.
The surge includes major financial institutions and specialized firms. Deutsche Bank is preparing a custody service for institutional clients. Other banks like DZ Bank and DekaBank have already integrated digital assets into their existing platforms. The momentum is driven by the expiration of transitional national regimes.
Major Banks Enter Digital Asset Custody
Deutsche Bank aims to launch its custody service by the end of 2026. The initial selection will include Bitcoin, Ether, USDC, and EURC. This move targets institutional clients and European businesses. The service is subject to final regulatory checks.
DZ Bank offers digital asset services within its main banking app. DekaBank collaborates with the German savings banks network. These institutions focus on adding assets to existing services rather than creating new exchanges. CoinShares researcher Luke Nolan notes similar progress among family offices and wealth managers.
The regulatory deadline for transitional regimes ended on July 1, 2026. Companies operating under older national rules had to secure MiCA authorization by this date. This deadline accelerated the application process in Germany. The resulting registry growth reflects a broader institutional shift.
UK Regulatory Timeline Lags Behind EU
The United Kingdom is still preparing its comprehensive regulatory framework. The FCA published final guidance recently. Authorization applications will open on September 30, 2026. The application window closes on February 28, 2027.
The new UK regime takes effect on October 25, 2027. It will cover trading platforms, asset custody, and stablecoins. This delay creates a gap with the operational MiCA system in the EU. The UK retail market remains nascent due to these regulatory delays.
Retail Adoption Remains Lower in Germany
A YouGov survey found cryptocurrency usage at 11% in Germany. This is lower than 23% in Switzerland and 18% in Austria. Only 23% of Germans consider crypto a valid investment. The institutional lead does not mirror retail adoption rates.
UK holdings reached 24% according to a 2025 Gemini survey. This is up from 18% the previous year. Germany’s strength lies in authorized corporate entities. The number of licenses indicates a robust institutional infrastructure.
