Germany Widens Lead as Six More Banks Secure Crypto Licenses Under MiCA

Germany has solidified its position as the top country in the European Union for MiCA authorizations, with six more cooperative banks joining the register to bring the total number of licensed crypto asset service providers (CASP) to 79. This puts Germany well ahead of France and the Netherlands, which have 35 and 29 authorized CASPs respectively.

The latest additions include Raiffeisenbank Aidlingen, Ihre Volksbank, VR Bank Mittelfranken Mitte, Volksbank Euskirchen, VR Bank Ried Überwald, and Volksbank Backnang. These institutions join the already existing pool of German cooperative banks that have received MiCA licenses.

Germany's lead in MiCA authorizations is partly due to its large financial sector and the number of credit institutions eligible to provide crypto services, according to BaFin. The country's regulatory system also allowed for simplified procedures when seeking authorization under the EU rules.