MiCA-Registered Banks Surge Past 80 in Just Three Months
The European Union's Markets in Crypto-Assets (MiCA) framework has seen a significant surge in registrations, with banks leading the charge.
In just three months, the number of MiCA-registered banks has doubled from around 40 to roughly 80. Over the same period, crypto-asset service providers (CASPs) rose from 243 to 349.
The increase in banks' registrations outpaced that of non-bank firms, with banks now accounting for about 23% of all registered entities. German banks were particularly prominent in this expansion, with several regional cooperative and commercial lenders added to the MiCA register.
This rapid growth is attributed to the framework's notification process, which allows banks to provide related services without obtaining a separate CASP authorization. According to Article 60 of MiCA, credit institutions need only submit required information to their national regulator at least 40 business days before first offering crypto-asset services.