Germany Outpaces UK in Crypto Adoption Amid Regulatory Momentum
Crypto adoption is accelerating in Germany, with younger investors and wealth intermediaries increasingly directing inherited funds towards digital assets. According to Luke Nolan, a researcher at CoinShares, this trend is being driven by family offices, wealth managers, and individual advisors, as well as younger cohorts seeking to invest in crypto.
Nolan characterized Germany's progress as 'very good', while describing the UK market as 'nascent' due to regulatory delays and the recent reopening of retail access to crypto exchange-traded products. The difference matters for investors, as where regulation and banking infrastructure move in tandem, institutions and advisors can more readily bring compliant custody and distribution into existing wealth channels.
Germany has 89 licensed crypto-asset service providers, representing 25.5% of companies in ESMA's MiCA register, and holds the EU lead in MiCA authorizations by June. Major German banks are positioning for institutional crypto custody, while the UK FCA is advancing licensing guidance and enforcement actions.