Traditional banks are rapidly expanding their footprint in Europe's regulated crypto market under the Markets in Crypto-Assets (MiCA) framework. Between June and September 2026, the number of banks on the European Securities and Markets Authority register doubled to about 80, raising their market share to nearly 23%. This growth is driven largely by German commercial and regional cooperative banks, including Deutsche Bank. Banks benefit from a streamlined Article 60 notification process, giving them a competitive advantage over non-bank startups.
Banks' MiCA register growth
- ▪The share of non-bank crypto-asset service providers (CASPs) on the European Securities and Markets Authority (ESMA) register fell from approximately 84% to 77% between late June and mid-September 2026.
- ▪Traditional banks increased their share of listed crypto-asset service providers on the European Securities and Markets Authority (ESMA) register from roughly 17% in late June to nearly 23% as of September 16, 2026.
- ▪The number of traditional banks on the European Securities and Markets Authority (ESMA) Markets in Crypto-Assets (MiCA) register doubled from approximately 40 to about 80 between June 26 and September 16, 2026.
- ▪Traditional banks accounted for approximately 40 of the 106 net additions to the European Securities and Markets Authority (ESMA) register between late June and mid-September 2026.
German banking sector expansion
- ▪In August 2026, Germany's cooperative banking network added six institutions to the European Securities and Markets Authority's (ESMA) MiCA register: Raiffeisenbank Aidlingen, Ihre Volksbank, VR Bank Mittelfranken Mitte, Volksbank Euskirchen, VR Bank Ried Überwald, and Volksbank Backnang
- ▪As of August 2026, Germany had 79 authorized crypto-asset service providers, compared with 35 in France and 29 in the Netherlands.
- ▪Germany drove the banking expansion on the European Securities and Markets Authority (ESMA) register, with commercial and regional cooperative banks, including Volksbank, Raiffeisenbank, and VR Bank institutions, appearing on the list.
- ▪Deutsche Bank announced plans on September 16, 2026, to launch digital asset custody services for institutional and corporate clients in Europe, expecting regulatory approval under MiCA in October 2026.
Article 60 notification process
- ▪A notification submitted under Article 60 of the Markets in Crypto-Assets (MiCA) regulation requires banks to submit information on governance, internal controls, risk management, security arrangements, and client asset protection
- ▪Unlike credit institutions, crypto-native companies must apply for full authorization as crypto-asset service providers (CASPs) under Article 62 of the Markets in Crypto-Assets (MiCA) regulation.
- ▪Under Article 60 of the Markets in Crypto-Assets (MiCA) regulation, credit institutions can provide crypto services by submitting a notification to their home regulator at least 40 working days before starting.
Non-bank CASP market share decline
- ▪A July 2026 report on Markets in Crypto-Assets (MiCA) compliance costs, cited in a crypto.news analysis, indicated that ongoing regulatory duties could pressure smaller providers, potentially triggering bank partnerships, acquisitions, or sales
- ▪The share of non-bank crypto-asset service providers (CASPs) on the European Securities and Markets Authority (ESMA) register fell from approximately 84% to 77% between late June and mid-September 2026.
Story comments
Loading comments…