Major Banks Enter European MiCA Register as Crypto Framework Reaches 309 Licensed Providers
The European Securities and Markets Authority has authorized 15 new crypto-asset service providers, bringing the total to 309, as traditional finance continues integrating with regulated digital asset markets.
Traditional Finance Enters MiCA Ecosystem
Europe’s crypto regulatory landscape deepened this week with the addition of a major traditional financial institution to the Markets in Crypto-Assets (MiCA) register. BNY SA/NV, the Belgian subsidiary of banking giant BNY Mellon, became one of 15 new licensed crypto-asset service providers (CASPs) approved by the European Securities and Markets Authority (ESMA) in its third post-deadline update. The approval marked a significant moment, demonstrating how established financial institutions are now operationalizing compliance with Europe’s unified crypto framework rather than remaining on the sidelines.
The latest batch of authorizations brings the interim MiCA register to 309 total licensed providers. Alongside BNY Mellon’s subsidiary, the update included four banking institutions overall—three German cooperative financial societies, namely Spar-und Kreditbank Rheinstetten, VR-Bank Augsburg-Ostallgäu, and Raiffeisenbank Falkenstein-Wörth—plus digital asset platforms BitPay, Coinify, and Bleap.
Expanding Regulatory Reach Across Europe
The third update showcased widening geographic adoption of MiCA compliance. Germany and Denmark led in new registrations with three providers each, while Bulgaria and Latvia each added two licensed entities. Belgium, Cyprus, Liechtenstein, and the Netherlands rounded out the list with single additions. Bulgaria’s new entrants included Altcoins BG and Digital Assist, Denmark added SafeLynx Technologies and Januar, while Bleap and Nodu Digital joined from Latvia. This distribution reflects how rapidly different European jurisdictions are processing applications under the framework introduced in July.
The pace of expansion accelerated notably since the July 1 transitional deadline, with ESMA previously approving 14 additional CASPs in its second update—which notably included Ripple Payments Europe, signaling acceptance of major blockchain infrastructure providers within the regulatory structure. The sequential updates underscore how MiCA implementation remains a dynamic process as companies continue completing licensing procedures across member states.
Challenges on the Road to Compliance
However, the expansion comes with warnings from industry participants about sustainability. Gate Europe CEO Giovanni Cunti cautioned that maintaining MiCA compliance could prove prohibitively expensive for smaller firms, potentially consolidating the market among larger players with sufficient resources to manage regulatory obligations. The compliance burden represents a structural shift in Europe’s crypto ecosystem, where regulatory overhead may function as a competitive advantage for well-capitalized operations.
For now, the MiCA register shows no changes across related categories—asset-referenced tokens, e-money tokens, or the roster of non-compliant entities remained static. As Europe continues building out its crypto oversight infrastructure, the steady flow of major institutions and platforms through ESMA’s approval process suggests the framework is achieving its goal of bringing institutional-grade oversight to digital asset services.
The entry of major banks into Europe’s MiCA register, alongside blockchain infrastructure providers like Ripple, signals growing institutional acceptance of regulated crypto services.
Source: ESMA, via Cointelegraph. Not financial advice.