Key insights
- ESMA expanded its register to 280 licensed crypto-asset service providers after adding 37 new firms.
- Standard Chartered strengthened its European digital asset strategy with both MiCA and EMI approvals.
- Cyprus led new authorizations, while Germany maintained the highest cumulative number of licensed firms.
MiCA entered a new phase after the European Securities and Markets Authority updated its public register for the first time since the European Union’s transition period ended on Wednesday. The latest update added 37 newly authorized crypto-asset service providers, increasing the total number of listed firms to 280 and highlighting the continued rollout of the bloc’s unified crypto regulatory framework.
The Friday update included global banking group Standard Chartered after Luxembourg regulators granted the bank MiCA authorization on June 25. Digital asset prime broker FalconX, Sygnum Europe and Ronin EM also joined the register, while Crédit Agricole-owned CACEIS entered the electronic money token register.
Licensing momentum gathers pace across Europe
The latest ESMA update reflects the steady expansion of regulated crypto firms across the European Union as national authorities continue issuing licenses under MiCA. The interim register now lists 280 crypto-asset service providers, compared with 243 in the previous update released on June 26.
Standard Chartered also secured an electronic money institution license, allowing it to issue electronic money and provide payment services across the region.
Margaret Harwood-Jones, the bank’s global head of financing, said the approvals marked an important milestone in the company’s European digital asset strategy. She added that the licenses support growing institutional demand for regulated digital asset services.
The bank said the approvals build on earlier initiatives, including launching digital asset custody services in Asia and the Middle East. It also plans to expand regulated crypto offerings for European clients.
Licensing activity by jurisdiction
| Country | Newly Added CASPs |
|---|---|
| Cyprus | 6 |
| France | 5 |
| Italy | 5 |
| Malta | 5 |
| Czech Republic | 4 |
| Spain | 4 |
| Luxembourg | 3 |
| Netherlands | 2 |
| Germany | 1 |
| Liechtenstein | 1 |
| Latvia | 1 |
Cyprus recorded the largest number of new approvals in this update. Meanwhile, Germany’s Federal Financial Supervisory Authority remained the leading regulator overall with 58 approved firms. Cyprus Securities and Exchange Commission has now granted 21 authorizations in total.
The broader regulatory picture continues to evolve
The latest MiCA register demonstrates how regulators continue shifting crypto businesses into a harmonized European framework. Authorized companies will benefit from a unified regulatory framework, rather than individual national approaches.
However, not every part of the framework advanced during the latest update.
ESMA reported no changes to the register covering asset-referenced tokens. The list still contains no approved issuers. The regulator also kept its register of non-compliant entities unchanged at 162.
Those figures show that licensing for crypto service providers continues progressing faster than approvals for certain token categories. That difference may shape how companies prioritize expansion within the European market over the coming months.
Key developments
- ESMA added 37 new crypto-asset service providers.
- Standard Chartered joined the register after receiving Luxembourg authorization.
- The total number of registered CASPs increased from 243 to 280.
The growth of participation is indicative of greater institutional adoption.
Standard Chartered included is a sign of growing engagement of traditional financial institutions as well as crypto-native companies. In addition, FalconX, Sygnum Europe and Ronin EM add to the array of regulated entities under MiCA.
As the register grows, it is likely to enhance transparency for institutional investors, counterparties and customers who look for regulated providers. It also provides greater transparency for market participants regarding when and where firms have gone through the licensing process in the EU.
While Germany remains the country with the most approvals, Cyprus is one of the fastest-growing licensing countries in implementation. Other jurisdictions, such as France, Italy and Malta, are also steadily developing regulated crypto markets.
The more firms receive approvals, the more competition we should see among regulated crypto service providers and the more consistent the compliance requirements will be across the European Union.
The regulated crypto market in Europe moves into its next phase
The MiCA update is a testament to the fact that crypto enterprises are steadily growing across the European Union, with regulated operations becoming the new norm. More companies will be authorised and financial institutions and digital asset businesses will be able to compete within a uniform regulatory framework, rather than on a national-by-national basis.
These increasing numbers of licensed providers can also increase trust among institutional investors who would like to see regulated providers. As long as the approvals go on at their present rate, the European market might become more appealing to global companies who want to conduct regulated digital asset services while respecting a unified approval.
Conclusion
The first update of the MiCA register is a further step towards the European Union’s attempt to create a single regulatory framework for digital assets. ESMA has registered 37 more crypto-asset service providers (CASPs), thereby increasing the number of firms authorized and enhancing transparency in the market.
Despite this, there is still a lack of uniformity in the implementation of MiCA in various segments. The number of tokens approved by service providers keeps climbing, with asset-referenced token issuers still to be approved. Future register changes will show whether momentum is building in licensing, and which other aspects of the regulatory framework follow suit.
