EU MiCA bank registrations double, now nearing 23%.

Huo Xing Finance reports, according to Cointelegraph’s analysis of ESMA’s MiCA registration data, the number of banks on the EU’s MiCA list of crypto service providers has doubled from approximately 40 on June 26 to about 80 by September 16, increasing their share from roughly 17% to nearly 23%, approaching one-quarter. During the same period, the total number of registered Crypto-Asset Service Providers (CASPs) rose from 243 to 349, but the proportion of non-bank providers declined from approximately 84% to 77%, indicating a relative reduction in their market share. Germany has been the primary driver of this bank expansion, with several cooperative and commercial banks newly appearing on ESMA’s MiCA registration list, including Volksbank, Raiffeisenbank, and VR Bank institutions. Germany’s largest bank, Deutsche Bank, also announced on Wednesday its plan to launch digital asset custody services for institutional and corporate clients in Europe; a spokesperson told Cointelegraph that regulatory approval under MiCA is expected by October. Unlike crypto companies that must apply for CASP authorization, banks can offer crypto-asset services through the notification procedure under Article 60 of MiCA, requiring only that they submit the necessary information to their national regulator at least 40 working days before first providing services, thereby bypassing the standard CASP authorization process.