Spain-based custody bank Cecabank announced that it has launched its crypto asset custody service. The service was launched in collaboration with Spanish crypto platform Bit2Me. The company reported that its assets under management were over 400 billion euros as of the beginning of 2026.
New step after MiCA license
With this development, Cecabank joined the traditional European custody banks that turned to the crypto field after the European Union’s Crypto Asset Markets regulation, MiCA. The bank launched its services in this field after receiving the MiCA license from Spain’s capital markets regulator CNMV in 2025. The institution is also registered with ESMA, the European Securities and Markets Authority.
Mini dictionary: MiCA is the European Union’s common regulatory framework for crypto asset service providers. This structure aims to establish a more harmonious system in member countries regarding licensing, investor protection and operational obligations.
Bit2Me stands out as a platform with a daily spot transaction volume of over 280 million dollars, according to CoinMarketCap data. Within the scope of the partnership, Bit2Me was positioned as both a technology partner and the first customer.
Cecabank evaluated the crypto asset custody service as a natural extension of its existing corporate activities and stated that this structure is built on the infrastructure that corporate customers already use.
Does not directly serve individual customers
Cecabank is not a bank that provides direct services to individual users. The institution operates as an infrastructure player that provides clearing, custody and warehouse services to more than 100 financial institutions used by consumers. The bank’s service network extends to more than 70 international markets.
In this respect, Cecabank’s move means adding a crypto custody service to the corporate finance ecosystem rather than a product launch for the end user. Although the bank acted early in this area, it does not act alone.
Banks in the US and Europe are turning to crypto
Throughout 2025 and entering 2026, banks in the USA have also taken steps towards crypto services. In July 2025, the U.S. Office of the Comptroller of the Currency, the Federal Reserve, and the Federal Deposit Insurance Corporation confirmed in a joint statement that national banks can provide crypto custody services, provided they establish adequate risk management and compliance programs.
According to data shared by Bitcoin financial services company River, 60% of the 25 largest banks in the US have either launched or publicly announced Bitcoin-related products. These topics included custody, trading and crypto-collateralized loan solutions.
Shahmir Khaliq, head of Citi’s securities services unit, said establishing a crypto custody platform is critical. JPMorgan Chase and Wells Fargo, which are among the largest banks in the USA in terms of asset size, were also listed among the institutions taking steps towards crypto services.
Competition is getting tighter
On the European side, MiCA is set to come into full force in late 2024, giving players like Cecabank the opportunity to take early positions. In this process, the bank expanded not only on the product side but also geographically. The institution opened a new office in Luxembourg and joined the management of ABBL, the Luxembourg Bankers’ Association, where he assumed the chairmanship of the Depositary Cluster.
However, competition in the crypto custody space is increasingly intense. Standard Chartered announced an agreement to acquire digital asset custody company Zodia Custody. While Citi is developing its own platform, smaller banks in the US are also working with fintech partners to offer Bitcoin services through existing mobile applications.
The main determining factor for Cecabank in the coming period will be whether its corporate business model, its early MiCA license and its new presence in one of Europe’s major fund centers will turn into a permanent advantage.
