Cryptocurrency offerings are starting to influence how European investors are choosing their bank providers, but regulatory uncertainty continues to hinder mainstream adoption, according to a new survey.
A Börse Stuttgart Digital survey released Tuesday found that 35% of European investors would consider switching banks if another institution offered better cryptocurrency investment options, suggesting crypto is starting to influence how some customers choose financial providers.
Nearly one in five respondents said they expect their main bank to offer crypto access within the next three years, according to the survey, which covered about 6,000 investors in Germany, Italy, Spain and France. The findings suggest crypto is moving closer to the mainstream banking relationship, at least among investors already open to digital assets.
Still, regulations and a lack of education remain the biggest hurdles to adoption, with 76% seeing crypto assets as insufficiently regulated, while over 60% feel poorly informed about digital assets.
MiCA increased trust in digital assets for nearly half of European investors
European Union regulation appears to be helping on that front. The EU’s Markets in Crypto-Assets Regulation (MiCA) went into full effect for crypto asset service providers on Dec. 30, 2024.
Nearly half of the surveyed investors said that the MiCA framework increased their trust in digital assets, making them “safer and more attractive.”
“Trust and clear regulation are essential for the next phase of crypto adoption in Europe. With MiCAR bringing transparency and legal certainty, investors gain the clarity they expect,” said Matthias Voelkel, the CEO of Börse Stuttgart Group.
The results land as traditional financial institutions across Europe keep inching deeper into crypto. Börse Stuttgart Digital said in January 2025 that it had become the first German provider of crypto asset services to receive an EU-wide MiCA license through its custody subsidiary, positioning itself as a regulated infrastructure provider for banks, brokers and asset managers.
Related: Deutsche Börse invests $200 million in Kraken parent Payward
Spain leads European crypto adoption
Among the surveyed countries, Spain showed the highest crypto adoption rate with nearly 28% of investors already owning digital assets. Germany was second with 25%, Italy followed with 24% and France with 23%.
Of the respondents, 25% said they had already invested in crypto, and 36% said they are likely to invest again within the next five years, showing “sustained interest despite market volatility,” according to the report.
According to a Chainalysis report published in October 2025, Russia had the largest crypto market in Europe with $376 billion of value received between July 2024 and June 2025, trailed by the United Kingdom with $273 billion and Germany with $219 billion.
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