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

Traditional banks are rapidly increasing their footprint in the European crypto market, with their representation on the EU’s MiCA register doubling from approximately 40 to 80 providers between June and September. Data from the European Securities and Markets Authority indicates that banks now account for nearly 23% of all listed crypto-asset service providers, up from 17% earlier this summer. This growth is largely driven by German institutions, including major players like Deutsche Bank and numerous regional cooperative banks such as Volksbank and Raiffeisenbank. Unlike specialized crypto firms that must undergo the full CASP authorization process, banks utilize a streamlined notification procedure under Article 60 of MiCA. This regulatory pathway allows credit institutions to offer digital asset services by notifying their home regulator 40 working days in advance. The shift signals a broader institutional integration of digital assets into the traditional European financial system. As banks leverage their existing regulatory status to enter the space, the competitive landscape for non-bank crypto providers is becoming increasingly crowded.