Germany has established itself as the leader in crypto adoption within the European Union, currently hosting 89 authorized crypto-asset service providers. This figure represents 25.5% of the total registrations under the Markets in Crypto-Assets framework. The growth is supported by institutional involvement, including Landesbank Baden-Württemberg, which launched crypto custody services in April 2024.
Deutsche Bank is expected to receive regulatory approval for its own crypto custody services by October 2026. According to CoinShares, family offices and wealth managers are increasingly directing inherited capital into digital assets. This institutional shift contrasts with the situation in the UK, where regulatory history and internal firm policies have created a different market environment.
A June 2026 survey of 261 European wealth management professionals revealed that 52% of UK financial advisers are unaware of more than half of their clients' digital asset holdings, compared to a 25% average across Europe. Researchers attribute this gap to UK firm-level policies that restrict adviser engagement with crypto, leading investors to manage their assets independently.
The UK market was further influenced by a Financial Conduct Authority ban on retail crypto-related exchange-traded products, which was in effect from January 2021 until the past year. In contrast, the MiCA regulatory regime provided German firms with a clear framework for compliance and product offerings, helping to build a critical mass of licensed infrastructure.
