BNY’s Belgian arm joins MiCA register as Europe’s authorised crypto firms climb to 309
The European crypto authorisation landscape keeps expanding: the European Securities and Markets Authority (ESMA) added 15 crypto-asset service providers (CASPs) to its interim Markets in Crypto-Assets (MiCA) register, bringing the count to 309 distinct authorised providers based on the register file dated July 23 (published July 24).
Headline addition: BNY SA/NV
- One of the most notable additions is BNY SA/NV, the Belgian subsidiary of U.S. financial services giant BNY Mellon. The National Bank of Belgium authorised the unit on July 20 to provide custody and transfer services for crypto-assets on behalf of clients. BNY reported $62.6 trillion in assets under custody or administration as of June 30; its Belgian arm already acts as a major European custody bank. The MiCA entry covers custody/administration and transfer services only — it does not authorise exchange or trading-platform operations.
Who else made the cut
The 15 new entries come from eight jurisdictions. Highlights include:
- Germany (4): Raiffeisenbank Falkenstein‑Wörth; Spar‑ und Kreditbank Rheinstetten; VR‑Bank Augsburg‑Ostallgäu; JT Technologies.
- Denmark (3): Coinify ApS; SafeLynx Technologies; Januar (payment and banking infrastructure for digital-asset firms).
- Netherlands (1): BitPay B.V. (digital payments).
- Bulgaria (2): Altcoins BG; Digital Assist.
- Latvia (2): Bleap; Nodu Digital.
- Cyprus (1): SG Digital Assets.
- Liechtenstein (1): Damoon Technology Europe.
ESMA’s register lists each firm alongside its national regulator, approval date and permitted services.
Why the total reads differently in some trackers
ESMA’s published CSV contains 312 rows, but some firms appear more than once. A tally by data firm NorthPoint counted 309 distinct entity‑and‑regulator pairs — the figure many outlets are using. Other trackers that count authorisation records rather than unique providers may report a higher total.
Context: MiCA transition and what authorisation means
The update follows the end of the EU’s MiCA transition period on July 1. Firms that had been operating under national registrations must now hold a CASP authorisation for covered services or wind those activities down. A MiCA authorisation granted by one national authority can support cross‑border services after the passporting process, but only for the services specifically approved for that provider.
Market impact and caveats
- The register’s rising CASP count shows national authorities are continuing to process applications after the July 1 deadline, but the list does not indicate how quickly an authorised provider will launch services or whether it can absorb long‑term compliance costs.
- Gate Europe CEO Giovanni Cunti warned some newly licensed firms “may not be capable to sustain the cost and the resources” required by ongoing staffing, reporting, security and capital obligations, potentially shrinking the practical regulated market.
- ESMA stresses the register is a public record of authorisation, not a rating of financial strength or service quality, and national authorities feed the data to ESMA (so entries may not appear immediately).
What to watch
- Weekly ESMA updates will show whether the number of authorised providers keeps rising after the July 1 deadline.
- Which newly authorised firms actually launch services, how quickly passporting is used to expand cross‑border offerings, and whether smaller entrants can shoulder MiCA’s compliance burden will determine how the European regulated crypto market shapes up in the months ahead.
Previous update
In the prior weekly file ESMA added 14 providers (taking the register to 294), including Ripple Payments Europe and several banks. That round and this one have already driven changes in market access and service availability for some providers and customers across Europe.
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