European Banks Accelerate Digital Asset Business Entry Under MiCA

Registered banks under the EU's digital asset regulation MiCA have nearly doubled to approximately 80 from about 40 in roughly three months, according to CoinTelegraph's analysis of ESMA data as of June 16.

The number of total digital asset service providers (CASP) rose from 243 to 349 during the same period. Bank registrations grew faster than non-bank entities; banks' share of registered firms increased from about 17% at the end of June to around 23% this month, while non-bank providers' share fell from roughly 84% to 77%.

German banks notably led market entry, with Deutsche Bank, Volksbank, Lippstadt Bank, and VR Bank among others adding their names to the MiCA registry.

Banks can offer digital asset services without separate CASP authorization by submitting required information to national regulators at least 40 business days before launching. CoinTelegraph noted this process facilitates existing banks' entry into the digital asset market.