Coinspeaker
Europe’s Largest Traditional Banks Venturing into Crypto Thanks to MiCA

A few major banks in Europe are now making efforts to enter the crypto sector following the adoption of the Markets in Crypto-Assets (MiCA) regulations. In a recent interview, Lukas Enzersdorfer-Konrad, the deputy CEO of crypto exchange and trading app Bitpanda said the attraction stems from the law’s clarity.

“European banks are moving into crypto as an asset class and tokenization technology, because MiCA, the upcoming regulatory framework for Europe is suddenly bringing full clarity for banks,” said he.

Europe’s MiCA Is Spurring Traditional Institutional Interest in Crypto

Following the approval of MiCA, these banks are now more willing to create crypto services. Since they do not have the technical knowledge and infrastructure, they are now looking to partner with organizations that have the knowledge required.

For instance, Bitpanda partnered with Austria’s largest community banking group, Raiffeisen, for its retail customers to enjoy cryptocurrency services. Last year, the two entities announc...