European banks are changing their strategy. In 2026, already 20 of the largest financial institutions in the region are launching or testing digital asset storage and trading services.
The key reason is the MiCA regulation. It has removed barriers for the large-scale entry of institutional investors and transformed the market from experimental to infrastructural.
Banks are moving from tests to products
According to BlockStories as of March 12, 2026, most banks are no longer limited to pilots. We are talking about real services with access for customers.
Santander and BBVA are among the leaders. Both groups offer custody and trading services for both retail and institutional clients.
BBVA became the first major bank in Europe to launch trading in Bitcoin and Ethereum directly in a mobile app in Spain. Santander implemented a similar model through its digital subsidiary Openbank.
Groupe BPCE and KBC also offer a full range of services — asset custody and trading. This is already a full integration into the banking infrastructure.
Institutional interest is growing
Some banks are betting on the corporate segment. Deutsche Bank has already moved from plans to real operations, launching custodial services in collaboration with Bitpanda and Taurus.
Commerzbank is developing a platform for corporate clients in partnership with Crypto Finance from Deutsche Börse. DZ Bank recently opened trading for the cooperative banking network.
At the same time, Credit Agricole and Societe Generale are already providing digital asset custody services for institutional clients but are waiting for full approval of trading operations under the CASP license.
Other players, including BNP Paribas, ING, and UniCredit, are at various stages of obtaining licenses or access to ETP products. There are no completely passive participants in the sample.
Societe Generale is betting on stablecoins
Societe Generale stands out with a separate direction. Its subsidiary SG-FORGE received MiCA license NoN2025-003 and is already working with custody, transfers, and order execution.
At the same time, the bank is developing its own euro stablecoin EUR CoinVertible. It has already been launched in three networks — Ethereum, Stellar, and XRP Ledger.
This is the next step after basic asset custody services. It involves creating its own payment infrastructure on the blockchain.
The Qivalis consortium is changing the game
The key event is happening not at the level of individual banks. An infrastructure is forming. The ten largest banks, including BNP Paribas, ING, and UniCredit, have created the Qivalis consortium. The goal is to launch a euro stablecoin in the second half of 2026.
The task is stated clearly. European banks want to create an alternative to USDT and USDC and reduce the dominance of the dollar in on-chain payments.
The fact of cooperation is significant. Banks that compete in the traditional sector are coming together to protect their share in the new financial system.
MiCA has become a turning point
The main change is the regulatory model. MiCA allows obtaining a license in one EU country and operating in all 27 jurisdictions immediately. This removes the key problem of previous years. Previously, each country required separate licensing, making scaling expensive and slow.
Now one licensed operator can immediately access the entire EU market. This has sharply accelerated the launch of products. Bitpanda directly calls its MiCA license a competitive advantage. The partnership with Deutsche Bank confirms this thesis in practice.
The turnaround occurred over four years
Back in 2022, banks blocked customer operations with exchanges. Today, the same players are creating their own products and infrastructure. The change in position took less than four years. This is one of the fastest institutional turnarounds in the financial system.
Against this backdrop, the strategic focus is changing. Banks no longer perceive the market as a risk. They view it as new infrastructure for payments and capital storage.
What's next?
Institutional entry is just beginning. The launch of Qivalis and the expansion of MiCA licenses may accelerate the transition from individual products to a unified ecosystem.
If banks can offer liquid euro stablecoins and scalable services, the market will receive an alternative to dollar-denominated instruments. This will change the balance of power in global settlements.
In the next 12–18 months, it will become clear whether European banks can establish themselves in this role. Or will the infrastructure remain entirely with the already established players from the USA.
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