Spanish-based custodian bank Cecabank has announced the launch of its cryptocurrency custody service. The new offering was rolled out in partnership with Bit2Me, a prominent Spanish crypto platform. According to the company, Cecabank now manages assets totaling more than 400 billion euros as of early 2026.
Cecabank enters crypto custody after MiCA license
With this development, Cecabank joins a growing list of traditional European custodian banks moving into the digital asset space following the European Union’s Markets in Crypto Assets (MiCA) regulatory framework. The bank launched its crypto service after obtaining a MiCA license from Spain’s capital markets regulator CNMV in 2025, and has also registered with the European Securities and Markets Authority (ESMA).
Glossary: MiCA is a regulatory framework created by the European Union for crypto asset service providers. It aims to establish a more harmonized system for licensing, investor protection, and operational obligations across member states.
Bit2Me, reporting more than $280 million in daily spot trading volume according to CoinMarketCap data, has assumed both the role of technology partner and first client under the new arrangement.
Cecabank views its crypto custody service as a natural extension of its existing institutional operations and highlights that the system is built on the infrastructure already used by its corporate clients.
Service focused on institutional clients, not individuals
Cecabank does not offer services directly to individual customers. Instead, it operates as an infrastructure provider, supporting more than 100 financial institutions used by consumers with clearing, custody, and depository services. Its network spans over 70 international markets.
This strategic move represents not a retail product launch but rather strengthens cryptocurrency custody within the institutional financial ecosystem. While Cecabank is early to the space, it is by no means alone in its ambitions.
Banks are turning to crypto in the US and Europe
Throughout 2025 and into 2026, US banks have also started to move into crypto services. In July 2025, the US Office of the Comptroller of the Currency, the Federal Reserve, and the Federal Deposit Insurance Corporation jointly declared that nationally chartered banks could offer crypto custody services, provided they have adequate risk management and compliance frameworks in place.
According to data shared by financial services company River, 60% of the top 25 US banks have launched or publicly announced Bitcoin-linked products, which include custody, trading, and crypto-backed lending solutions.
Shahmir Khaliq, head of Citi’s securities services unit, stressed that establishing a crypto custody platform is now of critical importance. Meanwhile, major US banks like JPMorgan Chase and Wells Fargo are also among the institutions advancing their digital asset service offerings.
Competition intensifies among custodians
With MiCA taking full effect in late 2024, European institutions like Cecabank have had an opportunity to secure an early foothold. The bank is expanding not just on the product front but geographically as well, opening a new office in Luxembourg, joining the Luxembourg Bankers’ Association (ABBL), and chairing its Depositary Cluster.
Competition in crypto custody is heating up. Standard Chartered has entered into an agreement to acquire digital asset custodian Zodia Custody. At the same time, Citi is building its own platform, and smaller US banks are partnering with fintechs to roll out Bitcoin services through mobile apps.
For Cecabank, the key question going forward is whether its institutional-focused business model, early adoption of the MiCA license, and presence in one of Europe’s leading fund centers will give it a lasting competitive edge.
