Cryptocurrency offerings are starting to influence European investors’ choice of banking provider, but regulatory uncertainty is still hindering mainstream adoption, according to a new study.
A Börse Stuttgart Digital survey released on Tuesday found that 35% of European investors said they would consider switching banks if another financial institution offered better crypto investment options, suggesting that cryptocurrencies are starting to influence some customers’ choice of financial provider.
The survey, which surveyed around 6,000 investors in Germany, Italy, Spain and France, found that nearly one in five respondents said they expected their main bank to offer access to cryptocurrencies within the next three years. The findings suggest that cryptocurrencies are moving closer to mainstream banking, at least among investors who are already open to digital assets.
Still, lack of regulation and education remains the biggest barrier to adoption, with 76% believing crypto assets are poorly regulated and over 60% feeling there is not enough information about digital assets.
MiCA increases confidence in digital assets for almost half of European investors
European Union regulations appear to be helping on this front. The EU’s Cryptoassets Market Regulation (MiCA) became fully effective for cryptoasset service providers on December 30, 2024.
Almost half of investors surveyed said the MiCA framework has 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. MiCAR brings transparency and legal certainty, giving investors the transparency they expect,” said Matthias Voelkel, CEO of Börse Stuttgart Group.
The results come as traditional financial institutions across Europe continue to embrace cryptocurrencies. Börse Stuttgart Digital announced in January 2025 that it became the first German crypto asset service provider to obtain an EU-wide MiCA license through its custodial subsidiary, establishing itself as a regulated infrastructure provider for banks, brokers and asset managers.
Related: Deutsche Börse invests $200 million in Kraken parent company Payword
Spain leads Europe in adopting cryptocurrencies
Spain has the highest cryptocurrency adoption rate among the countries surveyed, with around 28% of investors already owning digital assets. Germany came in second with 25%, followed by Italy with 24% and France with 23%.
According to the report, 25% of respondents said they had already invested in cryptocurrencies, and 36% said they were likely to invest again within the next five years, indicating “continued interest despite market volatility.”
According to a Chainalysis report published in October 2025, Russia has the largest cryptocurrency market in Europe with a value of $376 billion received from July 2024 to June 2025, followed by the UK with $273 billion and Germany with $219 billion.
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