Traditional lenders are staking out a much larger presence in Europe’s regulated digital-asset market, with banks now accounting for close to one in four providers on the bloc’s official crypto registry.

The number of banking institutions listed in the European Securities and Markets Authority’s MiCA register climbed from roughly 40 at the end of June to nearly 80 by September 16, lifting their share of the total from about 17% to just under 23%, according to an analysis of ESMA data. Over the same period, the full register expanded from 243 to 349 crypto-asset service providers.

Germany is driving much of the shift. The country now counts 89 authorized providers under the Markets in Crypto-Assets regulation, up from 58 at the start of…