CaixaBank has received authorization from CNMV as a crypto asset service provider (CASP) under the EU’s MiCA Regulation, completing the trio of Spain’s major banks entering the regulated crypto market. BBVA launched its services in July 2025, while Santander, via Openbank, expanded from Germany into Spain shortly thereafter. CaixaBank’s license covers custody, order transmission and execution, and client transfers, with a rollout planned in the coming months. The bank already offers bitcoin ETP exposure through its platforms and participates in the Qivalis euro stablecoin initiative.

Across the EU, banks represent a significant share of CASP approvals. Of 177 licenses granted so far, 36 have been awarded to banks, reflecting the streamlined pathway available to existing credit institutions under MiCA. Rather than undergoing a full authorization process, banks must comply with regulatory requirements but can commence services after a 40-day notification period. Spain stands out, with five of its six licenses going to banks, while countries such as Belgium, Liechtenstein, Luxembourg, and Germany also show strong banking participation.

However, the distribution varies in substance. In Germany, for example, a notable portion of bank licenses relates to cooperative institutions connected to DZ Bank, often relying on external providers for execution and custody. More broadly, most bank licenses focus on order transmission rather than full custody services, with exceptions such as Clearstream Banking. Meanwhile, several jurisdictions, including Italy, Greece, and Portugal, have yet to issue any CASP licenses, highlighting an uneven rollout of MiCA implementation across the EU.