EU Banks Outspend UK on Crypto as MiCA Sets the Pace

The picture nearly reverses in the U.K. Core-system limitations were a barrier for 71% of institutions. They also placed greater weight on infrastructure support, fiat connectivity and regulatory clarity. That uncertainty shapes provider choice: 60% of U.K. firms said reputation and long-term financial stability were critical, compared with 33% in continental Europe.

Both markets prioritize the same plumbing. Round-the-clock settlement and real-time payments ranked as the top use case for 86% of European respondents and 82% in the U.K. Cross-border payments and settlement for tokenized securities were also major priorities.

Europe is moving faster into tokenized investment products. Sixty-two percent plan to use tokenized money-market funds, against 45% in the U.K. European institutions also lead in tokenized securities and deposits. The U.K. stands out in one area: 50% of institutions plan to issue their own stablecoins, ahead of continental Europe's 40%.

The survey suggests Europe is building within rules already written. The U.K. is building while waiting for the final version. Both expect digital assets to become part of core financial infrastructure, with Europe currently holding the shorter path to deployment.