Spanish wholesale custodian Secabank, which reported assets under management (AUM) of more than 400 billion euros starting in 2026, revealed earlier today that it has launched a cryptocurrency custodian service. This service was made possible through our partnership with Bit2Me crypto exchange.
With this launch, Cecabank joins the growing list of European traditional custodian banks that have been actively pushing to expand their services to crypto customers through the EU’s Market for Cryptocurrency (MiCA) framework, after receiving the MiCA license from Spain’s CNMV in 2025.
The Madrid-based company is also registered with the European Securities and Markets Authority (ESMA).
of Move progressed with Bit2Meis a Spanish cryptocurrency platform with over $280 million in daily spot trading volume per CoinMarketCap as a partner and first client.
Cecabank starts storing cryptocurrencies while it’s hot
Cecabank does not directly serve the average user. Rather, it works like this: Backbone of over 100 financial institutions It is used by consumers to provide payment, storage, and custody services in more than 70 international markets.
Despite its first-mover advantage, Cecabank is not necessarily a first mover. In 2025-2026, US banks made moves to enter the crypto market after US regulators allowed entry.
In July 2025, the Office of the Comptroller of the Currency (OCC), the Federal Reserve System, and the Federal Deposit Insurance Corporation (FDIC) jointly confirmed that national banks can offer crypto custody. A non-negotiable condition is maintaining an appropriate risk management and compliance program.
Since then, you only have to look in the pudding to see the evidence. Data shared by Bitcoin financial services company River found that 60% of the top 25 U.S. banks have launched or announced plans for Bitcoin-related products such as custody, trading, and crypto-backed lending.
Shamir Khaliq, Citi’s head of securities services, said the launch of the crypto custody platform is at a “mission critical” level. Three of the other four largest U.S. banks by assets (JPMorgan Chase and Wells Fargo, with combined assets under management of more than $7.3 trillion) are also moving toward crypto services.
State-level regulators are also acting in response to public demand. In May 2026, Minnesota Governor Tim Walz signed a bill authorizing state-chartered banks and credit unions to hold Bitcoin and other digital assets for their customers as cryptopolitans starting in August 2026. previously reported.
The bill was prompted by St. Cloud Financial Credit Union, which told Minnesota lawmakers that about 20% of its members who already own cryptocurrencies do not have regulated local storage options.
MiCA rules gave European players a head start
The EU’s MiCA digital asset regulation, which took full effect in late 2024, allowed local companies like Cecabank to establish themselves early on, at a time when U.S. banks were still groping in the dark.
Notably, Sekabank is on a path of expansion both institutionally and geographically. The bank framed its cryptocurrency custody capabilities as a logical extension of its current business, building on the rails its institutional customers are already familiar with.
He also opened a new office in Luxembourg and joined the Board of Directors of the Association of Banks of Luxembourg (ABBL), where he currently chairs the Deposit Cluster.
However, cryptocurrency custody lanes are starting to feel crowded. Standard Chartered announces deal to acquire digital asset management company Zodia Custody, Citi is building its own platform and US community banks works with fintech partners like NYDIG to offer Bitcoin through its existing mobile app.
For Cecabank, the question is whether its B2B model, early MiCA license and recent foothold in one of Europe’s largest fund domiciles will give it a lasting advantage as larger global custodians enter the competition.
