Germany Widens MiCA Lead as Six New Banks Gain Authorization

Germany has solidified its lead in the number of providers licensed under the European Union's Markets in Crypto-Assets Regulation (MiCA), according to the latest update from the European Securities and Markets Authority (ESMA). The updated register now lists 331 authorized crypto asset service providers (CASPs), with six German cooperative banks added. These additions bring Germany's total to 79 CASPs, surpassing France's 35 and the Netherlands' 29.

The six new additions are all German cooperative banks: Raiffeisenbank Aidlingen, Ihre Volksbank, VR-Bank Mittelfranken Mitte, Volksbank Euskirchen, VR Bank Ried-Überwald, and Volksbank Backnang. This growth in Germany's total is attributed to the country's large financial sector and pre-existing national licensing regime.

BaFin pointed out that the simplified authorization procedures during the transition to MiCA contributed to the high number of CASPs in Germany. The ART register remains empty, while the EMT register holds 43 entries, and the non-compliant entity list has 167 entries.