European banks have nearly doubled their presence on the official MiCA crypto-asset service provider register in less than three months, lifting their share of listed entities to nearly 23 percent. Analysis of data from the European Securities and Markets Authority shows the number of banks rose from roughly 40 on June 26 to about 80 by September 16.

Over the same period the overall register grew from 243 to 349 providers. Non-bank firms continued to increase in absolute terms, yet their relative share declined from approximately 84 percent to 77 percent because banks entered the list at a faster pace.

Germany Drives Banking Expansion

Germany accounted for a large portion of the new banking entries. Dozens of cooperative and commercial institutions, including many Volksbank, Raiffeisenbank and VR Bank entities, now appear on the register. The additions demonstrate that regulated crypto services are extending into regional networks rather than remaining confined to large international groups.

Deutsche Bank, the country’s largest lender, is among the recent names. The bank announced plans to launch digital asset custody services for institutional and corporate clients in Europe. A spokesperson stated the bank expects regulatory approval for the offering in October, noting the service is not yet operational.

Separate Notification Path for Credit Institutions

Banks follow a distinct route into the MiCA framework. Under Article 60, a credit institution may begin offering crypto-asset services after notifying its home regulator at least 40 working days in advance. The notification must detail the planned services, governance arrangements, internal controls, risk management, IT security, business continuity and client-asset protection measures.

This process differs from the full authorization required of crypto-native companies seeking status as crypto-asset service providers under Article 62. Existing banking authorizations and compliance infrastructures allow lenders to expand without completing the standard CASP application, though they remain subject to ongoing financial-sector rules and MiCA operational requirements.

Register Composition and Service Scope

As of the September 16 update, banks represented close to one in four listed providers. Non-bank firms still form the clear majority and continued to grow numerically during the period. The register is updated weekly by ESMA based on submissions from national authorities, so recent notifications or authorizations may not appear immediately.

Permitted services vary by institution and depend on the details supplied in notifications or authorizations. Categories commonly covered include custody of crypto-assets, exchange between crypto-assets and funds or between crypto-assets, execution of client orders, reception and transmission of orders, investment advice and, where applicable, portfolio management.

Market Context and Ongoing Developments

Full enforcement of MiCA followed the end of the transition period on July 1. Providers without authorization were instructed to cease covered activities and assist customers in transferring assets. The register has expanded steadily since then, reaching 309 providers by late July and 331 in August before the September total of 349.

The rise in bank participation occurs as traditional financial institutions and crypto-native firms increasingly offer overlapping services. The headcount share of banks does not indicate trading volumes, assets under custody or actual market activity. Crypto-assets held with banks are not ordinary deposits and do not receive standard deposit insurance.

National authorities continue to submit updates to ESMA, and the public register remains subject to further change in the coming weeks and months.