Big Rise in New Spanish Crypto Firms Recorded in 2023, Says Central Bank
Spain’s Central Bank says the number of licensed crypto-related firms in the country grew by 50% in 2023.
Per data released by the bank, as well as a report from Criptonoticias, the bank has recently given some 30 firms operating permits.
The list of Bank of Spain-approved crypto operators is now 85 members strong.
The list contains major crypto exchanges, such as BitPanda and the Spanish branches of Crypto.com and Binance.
Alongside these exchanges are smaller domestic Web3 firms, as well as crypto custodians.
One notable name on the list is the Madrid Stock Exchange-listed security provider Prosegur, which has moved into the crypto custody space.
The vast majority of the firms on the list are headquartered in Madrid or Barcelona. A few others are based in smaller Spanish cities.
But other companies on the list are headquartered overseas. These include businesses based in the Netherlands, Malta, Italy, Austria, Estonia, Lithuania, Finland, Cyprus, Hungary, Luxembourg, the UK, and Germany.
The bank is the chief regulator of the Spanish crypto industry, and since October 2021 has required all firms that offer crypto-related services to apply for licences.
This process involves submitting and “certifying” “extensive electronic documentation,” the media outlet wrote.
Registration has become even more complicated since Spain started implementing EU MiCA regulations.
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