EU MiCA Register Reaches 375 Crypto Providers as BingX,…

Published: October 19, 2026 – 16:09 UTC

The European Securities and Markets Authority (ESMA) has expanded its Markets in Crypto-Assets Regulation (MiCA) register to 375 unique crypto-asset service providers (CASPs), adding nine firms in its October 16 update, including BingX, YouHodler and banking entities linked to Santander and German cooperative lenders.The additions illustrate the expanding participation of cryptocurrency exchanges, fintech platforms and traditional financial institutions in Europe's regulated digital asset market, more than three months after the bloc's transitional licensing period expired.Austria's Financial Market Authority authorized BingX's European entity, MEGE zweite GmbH, on October 13. Italy's securities regulator, CONSOB, approved YouHodler Italy S.r.l. on October 8, allowing the company to provide specified crypto-asset services under the EU framework.

What Services Can BingX and YouHodler Offer Under MiCA?

BingX EU received authorization for four activities: custody and administration of crypto-assets, exchanging crypto-assets for fiat currency, exchanging crypto-assets for other cryptocurrencies, and transferring crypto-assets on behalf of clients.The company plans to use its Austrian authorization to establish regulated services across 29 European Economic Area countries, subject to applicable passporting arrangements.The latest register entry follows BingX's Austrian MiCA authorization announcement, which FinanceFeeds covered on October 15.However, the approval applies specifically to MEGE zweite GmbH and its authorized activities. It does not automatically extend to every product available through BingX's international platform, particularly derivatives products governed by separate financial regulations.YouHodler's Italian subsidiary received authorization covering five activities, including custody, fiat-to-crypto and crypto-to-crypto exchange, order execution and transfers.Although YouHodler also operates crypto-backed lending and yield products, those activities are not included among the five services listed in CONSOB's authorization. The approval therefore should not be interpreted as regulatory endorsement of the company's entire product portfolio.YouHodler said it intends to extend its authorized services across all 27 EU member states through MiCA's passporting mechanism.

Investor Takeaway

MiCA authorization provides a regulated route to European customers, but the scope of each license determines which products can legally be offered. Investors assessing exchange growth should distinguish regulated spot-trading and custody operations from derivatives, lending and yield-generating services.

Why Are More European Banks Entering the Crypto Register?

The latest additions extend beyond specialist cryptocurrency companies. Germany's Openbank Deutschland, part of Banco Santander's banking group, appeared alongside cooperative lenders VR-Bank Alb-Blau-Donau and VR Bank im südlichen Franken.Spain's Prakma Markets, associated with the Goin investment application, also joined the register with permissions covering custody, order reception and transmission, and transfers.The growing participation of banks illustrates how MiCA enables established financial institutions to incorporate digital asset services into existing customer relationships.Unlike standalone cryptocurrency platforms, banks can potentially distribute custody and execution services through existing accounts, compliance systems and client acquisition channels. That may lower incremental distribution costs, although the economics depend on actual customer adoption and trading activity.The register also includes notifications from already-regulated financial institutions, meaning its total should not be interpreted as 375 newly licensed cryptocurrency exchanges.FinanceFeeds previously examined the distinction between MiCA register records and unique authorized entities, including duplicate entries and differences between standard CASP authorizations and notifications.

Investor Takeaway

Bank participation could increase competitive pressure on independent crypto exchanges, particularly in custody and basic trading services. The commercial impact will depend on whether traditional financial institutions convert their existing customer bases into active digital asset users.

What Do the Latest MiCA Register Figures Reveal?

While the number of registered CASPs has increased, other sections of ESMA's database remain comparatively unchanged.The e-money token register contains 50 entries representing 25 unique entities, while the asset-referenced token issuer register remains empty. The register of non-compliant crypto-asset service providers increased by five entries to 178.The figures indicate that authorization activity remains concentrated in service providers rather than asset-referenced token issuance. However, the absence of ART issuers in the register does not establish that all stablecoin activity in Europe falls outside MiCA.Another issue concerns Denmark's Penning Financial Services, which no longer appears in the latest CASP register despite being included in earlier updates.Penning maintains that its authorization remains valid and said it had received no communication from Denmark's financial regulator indicating a change. The discrepancy has not been publicly resolved, and removal from a register update alone does not establish that a license has been revoked.ESMA publishes information supplied by national competent authorities, with updates appearing periodically rather than immediately following every regulatory decision.

How Will MiCA Reshape European Crypto Competition?

The July 1, 2026 expiration of MiCA's transitional arrangements removed the previous route for unlicensed providers to continue offering covered services under legacy national registrations.As FinanceFeeds reported when ESMA instructed unauthorized crypto firms to prepare orderly wind-downs, providers without the required authorization face restrictions on serving EU clients.That creates an advantage for firms that secure authorization and complete the relevant passporting procedures, while increasing compliance and operational costs for smaller competitors.However, regulatory approval alone does not guarantee market share. Licensed providers must still compete on trading liquidity, execution quality, custody arrangements, product availability and customer pricing.

Investor Takeaway

The expanding register demonstrates growing access to Europe's regulated crypto market, but license counts are not a reliable proxy for revenue or adoption. Future competitive performance will depend on active customers, trading volumes and the ability to operate profitably under MiCA's requirements.

Source: FinanceFeeds