The number of registered banks under the EU MiCA has doubled, accounting for nearly 23%

According to an analysis by Cointelegraph of the European Securities and Markets Authority (ESMA) MiCA registration data, the number of banks on the EU MiCA crypto service provider list has doubled from about 40 on June 26 to about 80 on September 16, with the proportion rising from about 17% to nearly 23%, approaching one-quarter. During the same period, the total number of registered Crypto Asset Service Providers (CASP) increased from 243 to 349, but the proportion of non-bank service providers decreased from about 84% to 77%, reflecting a relative shrinkage.

Germany is the main driving force behind this round of bank expansion, with several cooperative banks and commercial banks recently appearing on ESMA's MiCA registration list, including Volksbank, Raiffeisenbank, and VR Bank. Germany's largest bank, Deutsche Bank, also announced on Wednesday plans to launch digital asset custody services for institutional and corporate clients in Europe. A spokesperson for the bank told Cointelegraph that regulatory approval under MiCA is expected in October.

Unlike crypto companies that need to apply for CASP authorization, banks can provide crypto asset services through the notification procedure stipulated in Article 60 of MiCA, allowing them to bypass the standard CASP authorization process by simply submitting the required information to their national regulatory authority at least 40 working days before offering the service for the first time.