BNY‘s Belgian subsidiary has secured BNY MiCA crypto custody authorisation, joining a register that has added 66 authorised providers in the three weeks since the EU’s grandfathering deadline expired on 1 July.
The European Securities and Markets Authority (ESMA) published its latest update on 24 July, based on a register file dated 23 July. The 15 new additions bring the total to 309 distinct authorised crypto-asset service providers (CASPs) across European markets.
BNY MiCA Crypto Custody: The G-SIB Angle
BNY SA/NV, the Belgian banking subsidiary of BNY, was authorised by the National Bank of Belgium on 20 July for crypto-asset custody, administration, and transfer services on behalf of clients. The entry covers no exchange or trading-platform operations.
On its corporate site, BNY positions itself as the first global systemically important bank (G-SIB) to offer regulated digital asset custody and services, with the caveat that the claim holds until another G-SIB or global systemically important financial institution launches a comparable US crypto custody offering. The parent group reported $62.6 trillion in assets under custody or administration as of 30 June.
Belgium’s MiCA implementation splits supervisory responsibilities: under the Law of 11 December 2025, the National Bank of Belgium handles authorisation and prudential oversight of CASPs, while the Financial Services and Markets Authority (FSMA) is responsible for conduct supervision.
Register Trajectory Since the July Deadline
The register’s growth since the transition deadline has been rapid. According to MiCA Crypto Alliance, the list stood at roughly 243 authorised CASPs in late June. The first post-deadline update on 3 July added 37 providers to reach 280; the second on 16 July added 14 to reach 294; this third update adds 15 more.
The 15 new entries came from eight jurisdictions. Germany led with four: three cooperative banks (Raiffeisenbank Falkenstein-Wörth, Spar- und Kreditbank Rheinstetten, and VR-Bank Augsburg-Ostallgäu) plus JT Technologies. Denmark added three: BitPay’s Dutch-registered entity appeared separately, while Denmark’s entries were Coinify ApS, SafeLynx Technologies, and Januar. Bulgaria contributed Altcoins BG and Digital Assist; Latvia added Bleap and Nodu Digital. Belgium (BNY SA/NV), Cyprus (SG Digital Assets), Liechtenstein (Damoon Technology Europe), and the Netherlands (BitPay B.V.) each contributed one.
The published CSV file contains 312 rows, but some firms appear more than once. A register comparison by NorthPoint counted 309 distinct entity-and-regulator pairs, which is why some trackers report a higher total when counting authorisation records rather than separate providers.
ESMA notes the register remains an interim set of CSV files until mid-2026, when it will be formally integrated into the authority’s IT systems. The framework is grounded in Articles 109 and 110 of the MiCA Regulation, which required ESMA to publish a central register of authorised CASPs by 30 December 2024.
Separately, ESMA launched its first common supervisory action under MiCA on 8 July, focused on how CASPs safeguard client crypto-assets. Findings from that review are expected in 2027.
One regulatory wrinkle remains active at the EU level. The European Banking Authority (EBA) has published a No Action letter advising national competent authorities to require a PSD2 authorisation from CASPs that transact e-money tokens only from 2 March 2026 onwards, with streamlined procedures that reuse information already submitted during CASP authorisation.
A MiCA authorisation from one national authority can support cross-border services via passporting, but it covers only the services listed for that provider. Companies that previously operated through national registrations must now hold a CASP authorisation for covered activities or wind them down.
The compliance burden is already prompting warnings. Gate Europe chief executive Giovanni Cunti recently cautioned that some licensed firms may ‘not be capable to sustain the cost and the resources’ needed over time, pointing to staffing, reporting, security, and capital requirements as ongoing pressure points. A larger CASP register does not guarantee every entrant survives it.
The fourth post-deadline weekly file will indicate whether authorisation volumes are holding, accelerating, or beginning to plateau.
