European Banks Flood Into MiCA Register as Numbers Double

The number of European banks listed on the MiCA register has doubled in less than three months to around 80, according to data from the European Securities and Markets Authority. This represents a significant increase in the presence of banks on the register, which now account for nearly one in four listed crypto-asset service providers.

The total number of listed crypto providers climbed from 243 to 349 during the same period, while banks accounted for approximately 100% growth in the number of institutions listed. Non-bank firms still make up most of the register, but their share fell from around 84% to 77% as banks entered at a faster rate.

The majority of new banking entries came from Germany, with regional cooperative lenders and Deutsche Bank also joining the register. Banks can enter the MiCA market through a notification process rather than a standard CASP application, which allows them to extend their regulated business without completing the full authorization process.