1 in 5 cryptocurrency companies in Europe are banks
Banks in the European Union are increasing their presence in the regulated cryptocurrency market following the approval of the MiCA law. The registration of the European Securities and Markets Authority (ESMA) indicates that the number of banks registered as crypto-asset service providers grew from approximately 40 on June 26 to nearly 80 on September 16. During this period, the total number of crypto-asset service providers (CASP) increased from 243 to 349 entities. Although non-bank companies still make up the majority, their relative share decreased from 84% to 77%, while that of banks increased from 17% to nearly 23%. Germany is a key driver in this expansion, with the inclusion of large commercial banks and cooperative entities such as Deutsche Bank, which plans to offer digital asset custody services. The MiCA law allows banks to offer certain cryptocurrency services by notifying their supervisory authority, facilitating their entry into the register. However, being in the register does not guarantee that a bank has products available for its customers. It will be necessary to observe which entities advance from notification to effective operation and what services they offer.
-- Price
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