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Cryptocurrency: German penetration soars, London lags behind

2026-09-18 15:13:56
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德国在MiCA框架下获89家授权机构,占欧盟ESMA注册总数的25.5%

截至最新数据,德国在《加密资产市场法规》(MiCA)框架下已获得授权的提供商数量达到89家,占欧洲证券和市场管理局(ESMA)欧盟注册名单的25.5%。而在今年7月初,这一数字仅为58家。短短两个多月内,德国新增了31家授权机构,增幅超过50%。目前,传统银行、财富管理机构以及专注于加密货币领域的玩家纷纷加入这一行列。此外,德意志银行(Deutsche Bank)也正准备在年底前推出其专属的数字资产托管服务。

关键要点速览

  • 德国在MiCA框架下拥有89家已授权服务提供商。
  • 这些机构占ESMA欧盟注册名单中服务商总数的25.5%。
  • 德意志银行计划在2026年底前启动其数字资产托管服务。

牌照数量激增:从7月的58家快速攀升至89家

这一增长势头十分迅猛。7月3日,MiCA注册名单显示欧洲共有280家授权企业,其中德国以58家领先,法国为31家,荷兰为26家。如今,德国的授权数量已上升至89家。据CoinShares引用的数据显示,这一数字占据了ESMA注册名单中服务商总量的四分之一以上。

根据MiCA规定,获得授权的公司需申报其提供的服务内容、计划运营的国家/地区以及颁发许可证的主管当局。该注册名单是公开的,并会定期更新。此前规定的过渡期也已结束,部分在国家原有制度下运营的企业最迟可继续运营至2026年7月1日,除非它们在此之前获得了MiCA授权。德国从58家增至89家的变化,正是发生在此截止日期之后。

CoinShares的研究员Luke Nolan指出,这种进展不仅限于交易所领域。他特别提到了家族办公室、财富管理人员和金融顾问等机构的参与。据报道,年轻的德国投资者对接触数字资产的兴趣也在日益浓厚。

德国主要银行陆续入场

德意志银行提供了最新的案例。作为德国最大的银行,德意志银行已确认计划在完成监管审查后,于2026年底前推出数字资产托管服务。预计首批面向机构客户和欧洲企业提供的资产将包括比特币(Bitcoin)、以太坊(Ether)、USDC和EURC。

其他金融机构的动作则更为靠前。DZ Bank已经开发了集成在其银行应用程序中的相关产品,而DekaBank则与德国储蓄银行网络合作。这些举措的目的并非创建新的交易所,而是将这些数字资产添加到银行现有的服务体系中。

However, compared with the enthusiasm on the institutional side, public acceptance shows an interesting contrast. A YouGov survey of 4000 people conducted in June this year showed that the proportion of cryptocurrencies in Germany was 11%, which is far lower than the 23% in Switzerland and the 18% in Austria. Only 23% of Germans surveyed believed that cryptocurrencies were an effective investment method, compared with 37% in Switzerland.

As a result, Germany may not be in a leading position in terms of user penetration, but the number of authorized companies and the trend in banks starting to provide related services are particularly impressive.

London is still preparing a new framework

Luke Nolan compares Germany's accelerated development with the current situation in the UK. He believes that the UK's retail market is still in the "embryonic" stage due to delays in the establishment of a comprehensive regulatory framework. The UK's Financial Conduct Authority (FCA) has just issued final guidelines. The authorization application window will open on September 30, 2026 and remain closed until February 28, 2027. The new system will officially take effect on October 25, 2027, covering trading platforms, asset custody, specific stablecoins and pledge-related activities.

Part of the gap between Germany and the UK stems from this: MiCA has come into effect in the EU, while London is still preparing for the implementation of its own system. But this does not mean that the UK is avoiding cryptocurrencies. The 2025 survey released by Gemini even showed that the cryptocurrency holding rate in the UK was 24%, up from 18% a year ago.

即便在德国,这89张牌照也只是故事的一部分。如果直接调查用户群体,瑞士依然遥遥领先。最近的一项调查显示,瑞士有23%的人口是加密货币用户,而德国仅为11%。对于德国而言,当前的运动主要由机构推动。尽管已有89家授权提供商,且较7月初增加了31家,但德意志银行仍在等待最终的批准信号。在MiCA框架下,德国市场的布局远未完成。

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