German Banks Fuel Crypto Provider Growth in EU
The European Union's MiCA register has seen a significant surge in traditional banks registering as crypto-asset service providers, with their numbers nearly doubling to around 80 from just 40 a few months ago. This growth outpaces that of non-bank providers, which now make up the majority at 77%.
The driving force behind this trend is Germany's banking sector, where commercial banks and regional cooperative banks have been registering with ESMA in large numbers. Deutsche Bank, the country's largest lender, has announced plans to offer digital asset custody services for institutional and corporate clients, targeting regulatory approval by October 2026.
The reason behind this faster pace is largely due to Article 60's notification route, which allows banks to leverage their existing regulatory standing to fast-track their entry into crypto services. This shortcut is a key advantage for traditional finance institutions entering the European crypto custody market.