Banks double on EU MiCA crypto provider list as share hits 23%

Banks are rapidly expanding their presence in Europe’s regulated crypto market, with traditional lenders now accounting for nearly one in four providers listed under the European Union’s Markets in Crypto-Assets framework (MiCA).The number of banks on the EU’s MiCA crypto provider list doubled to about 80 from roughly 40 between June 26 and Sept. 16, according to a Cointelegraph analysis of MiCA register data from the European Securities and Markets Authority (ESMA).The overall number of listed crypto-asset service providers (CASPs) rose from 243 to 349 over the period, but non-bank providers lost ground in relative terms, with their share falling from about 84% to 77%.While non-bank providers still dominate the register and grew in absolute numbers, banks expanded much faster, increasing their share from around 17% in late June to nearly 23% in September.German banks pile into cryptoGermany drove much of the banking expansion, with dozens of cooperative and commercial banks appearing on ESMA’s MiCA register.New names include Deutsche Bank, Germany’s largest lender, which on Wednesday announced plans to launch digital asset custody services for institutional and corporate clients i...