The European Securities and Markets Authority (ESMA) updated its interim MiCA register on Thursday, adding 14 new crypto-asset service providers (CASPs). With these additions, the total number of officially licensed CASPs across the European Union has reached 294 - a figure highlighting how quickly the Markets in Crypto-Assets framework has absorbed market participants since taking effect.
Among the newly approved entities are several notable names: Ripple Payments Europe, the European payments division of Ripple, joined alongside Portugal’s Bison Bank and Croatian state-owned lender Hrvatska poลกtanska banka (HPB).
Traditional Banks Flock to the Crypto Space
What stands out most in this update is the profile of the registrants. The latest batch reflects a steady influx of conventional financial institutions into Europe’s regulated crypto market: two German cooperative banks - Volksbank Schwarzwald-Donau-Neckar and Raiffeisenbank Auerbach-Freihung - were approved, alongside Liechtenstein-based Kaiser Partner Privatbank, which is expanding its crypto-focused private banking services.
The CASP register already hosts a lineup of other banking heavyweights, including Spain’s BBVA and CaixaBank, Germany’s Commerzbank, France’s CACEIS Bank, and Standard Chartered Luxembourg. Crypto assets, once kept at arm’s length by mainstream banking, have turned into a competitive service line under clear regulatory rules.
Momentum Begins to Cool
Yet there is an important nuance behind the headline figure of 14. This update follows a July 3 expansion when regulators onboarded 37 CASPs in the first major registry update after the end of MiCA’s transitional period. That comparison - 37 followed by 14 - indicates that the licensing pace is slowing compared to the initial rush. Meanwhile, the register for electronic money tokens remained unchanged at 21 issuers, while approved asset-referenced token issuers still stand at zero.
ESMA’s role has not been limited to granting approvals. The regulator also added two entities - Reversal Investment Group and Kortex - to its non-compliant list following enforcement action by Italy’s securities watchdog (CONSOB), bringing the total number of blacklisted entities to 164, which already includes crypto exchange MEXC.
Reading the Direction of Europe’s Crypto Market
The emerging picture points to a maturing market rather than an explosive one. The cooling approval rate does not signal waning interest - the entry of traditional banks suggests quite the opposite - but rather indicates that the wave of easiest applications has passed, with remaining contenders requiring more extensive review. For the crypto sector, MiCA is gradually transitioning from a crowded gateway into an operational standard that filters out who is truly equipped to operate in Europe.
Reported by Cointelegraph.
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
