Institutional infrastructure
Who is licensed to offer institutional crypto services in Europe
Every licensed legal entity from the ESMA MiCA register, plus the leading international providers without an EU licence. Filter by country, service and custody status.
Register status: 2026-08-20 · ESMA CASP
335
licensed legal entities across 26 member states of the EU and EEA
197
of them licensed for custody, the core of the institutional business
79
licensed in Germany, more than in any other member state
167
firms are listed by ESMA as reported non-compliant
The licensing wave, visible in the register data
Four entities were licensed by the end of 2024. In the second quarter of 2026 alone, 105 were added.
The register, filterable
The B2B selection is preset. The toggle shows the complete register, which also contains brokers and trading venues for retail clients. Column headers sort.
Key infrastructure, not a custodian in the legal sense
FalconX Limited
Coinbase Luxembourg S.A.
Sygnum Europe AG
AMINA (Austria) AG
zerohash europe B.V.
Bison Bank, S.A.
Zodia Custody (Europe) S.A.
CIRCLE INTERNET FINANCIAL EUROPE SAS
BaFin · Existing German permission, but no MiCA entry in the register
Kraken Digital Asset Exchange (Kraken)
Payward Europe Solutions Limited
| Provider ↕ | Country ↕ | Role | MiCA services | Authorised ↕ | Searches/mo. ↕ |
|---|---|---|---|---|---|
| PaxosNYDFS | US | Stablecoin | not in EU register | 46,000 | |
| BitGo Europe GmbH | DE | Verwahrung | 2025-05-09 | 34,000 | |
| Galaxy Digital | US | Prime & Handel | not in EU register | 20,000 | |
| Ondo Finance | US | Tokenisierung | not in EU register | 19,000 | |
| FireblocksKey infrastructure, not a custodian in the legal sense | US | Infrastruktur | not in EU register | 16,000 | |
| KomainuJFSC Jersey | JE | Verwahrung | not in EU register | 12,000 | |
| FalconXFalconX Limited | MT | Prime & Handel | 2026-06-26 | 7,700 | |
| SecuritizeSEC | US | Tokenisierung | not in EU register | 5,000 | |
| Anchorage DigitalOCC | US | Verwahrung | not in EU register | 4,700 | |
| TokenyTechnology provider, no CASP licence required | LU | Tokenisierung | not in EU register | 4,400 | |
| CoinbaseCoinbase Luxembourg S.A. | LU | Prime & Handel | 2025-06-20 | 3,300 | |
| Sygnum EuropeSygnum Europe AG | LI | Krypto-Bank | 2026-06-26 | 3,100 | |
| AMINA EUAMINA (Austria) AG | AT | Krypto-Bank | 2025-10-29 | 2,900 | |
| zerohash europezerohash europe B.V. | NL | Stablecoin | 2025-10-29 | 2,600 | |
| Bitcoin Suisse (Europe) AG | LI | Krypto-Bank | 2026-06-22 | 2,300 | |
| Hex TrustSFC Hong Kong | HK | Verwahrung | not in EU register | 1,600 | |
| Tangany GmbH | DE | Verwahrung | 2025-08-08 | 1,300 | |
| Bison BankBison Bank, S.A. | PT | Krypto-Bank | 2026-05-19 | 1,200 | |
| ZodiaZodia Custody (Europe) S.A. | LU | Verwahrung | 2025-12-12 | 1,100 | |
| Fidelity Digital Assets | US | Verwahrung | not in EU register | 1,100 | |
| CIRCLECIRCLE INTERNET FINANCIAL EUROPE SAS | FR | Stablecoin | 2026-04-23 | 800 | |
| TaurusFINMA | CH | Verwahrung | not in EU register | 700 | |
| FinoaBaFin · Existing German permission, but no MiCA entry in the register | DE | Verwahrung | not in EU register | 600 | |
| CopperFCA | UK | Verwahrung | not in EU register | 100 | |
| Deutsche Digital Assets | DE | Fonds | not in EU register | 100 | |
| Boerse Stuttgart Digital Custody GmbH | DE | Verwahrung | 2025-01-17 | 90 | |
| Bitpanda Asset Management GmbH | DE | Verwahrung | 2025-01-24 | 40 | |
| Commerzbank Aktiengesellschaft | DE | Bank | 2025-04-07 | ||
| Crypto Finance (Deutschland) GmbH | DE | Verwahrung | 2025-01-24 | ||
| Hauck Aufhäuser Digital Custody GmbH | DE | Bank | 2025-11-28 | ||
| DZ BANK AG Deutsche Zentral-Genossenschaftsbank | DE | Bank | 2025-12-23 | ||
| Kraken Digital Asset Exchange (Kraken)Payward Europe Solutions Limited | IE | Prime & Handel | 2025-06-25 |
What institutional custody costs
Custodians negotiate per mandate and publish no price lists. What is public is the structure of the fee and a few disclosed figures. Everything below is sourced from industry publications, not confirmed by the providers, and should be read as an order of magnitude rather than a quote.
4 – 15 bp
Annual custody fee
Basis points per year on assets under custody. Larger mandates pay less; 10 bp on 10 million dollars is 10,000 dollars a year.
0,5 – 1 Mio. $
Typical minimum balance
Reported entry thresholds range from about 500,000 dollars to one million; some providers are named at ten million.
ab 10.000 $
Onboarding fee
One provider is publicly cited at 10,000 dollars; others fold onboarding into the annual fee.
200 – 750 Mio. $
Insurance cover
Cover named by the larger custodians, usually as an aggregate limit for the whole platform, not per client.
Beyond the headline rate, four items decide the real cost: network fees passed through, staking commission, withdrawal charges, and whether reporting and audit support are included or billed separately.
What this edition cannot do yet
- Per-provider fees are missing and will probably stay missing: custodians negotiate per mandate. What is verifiable is licence, services, domicile and supervision.
- Custody model, insurance and audit evidence are not yet in the data. They come only from the providers themselves and are not public for every firm. Where that is the case, the entry will read “not disclosed”, not blank.
- The role assignment is editorial and set for the curated entries only. For the rest, the table shows what the register says and nothing beyond it.
- A missing register entry does not mean unregulated. These firms are supervised elsewhere, by the OCC, FINMA, the SFC or under existing German permissions.