Banks Flood EU's Regulated Crypto Market as Share Hits 23%

The European Union's regulated crypto market is expanding rapidly, with traditional lenders now making up nearly one in four providers listed under the MiCA framework.

According to a Cointelegraph analysis of ESMA data, the number of banks on the EU's MiCA crypto provider list doubled from roughly 40 to about 80 between June 26 and September 16.

This rapid expansion has led to a significant increase in bank providers' share, which rose from around 17% in late June to nearly 23% in September.

Germany drove much of this banking expansion, with dozens of cooperative and commercial banks appearing on ESMA's MiCA register. Notably, Deutsche Bank, Germany's largest lender, announced plans to launch digital asset custody services for institutional and corporate clients in Europe under MiCA regulation.