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 crypto
Germany drove much of the banking…
