Spanish Bank Cecabank Brings Crypto Custody Plans to Luxembourg

Spanish institutional custodian Cecabank is extending its regulated crypto-asset custody services into Luxembourg through the MiCA European passporting framework.

Strategic Push Through MiCA Passporting#

Spanish institutional custodian Cecabank has reportedly begun efforts to expand its regulated crypto-asset custody services into Luxembourg, around 18 months after opening a local branch in the Grand Duchy. In 2025, Cecabank reportedly became the first Spanish B2B custodian to obtain a Markets in Crypto-Assets (MiCA) license.

However, Cecabank launched its commercial crypto custody service in May 2026, but the license does not automatically cover operations across EU borders. The bank has therefore started the European passporting process to extend its regulatory reach into Luxembourg, Ireland and Portugal.

Cecabank CEO Ainhoa Jáuregui said the bank is building a bridge between traditional financial infrastructure and the emerging tokenized economy. She added that institutional clients will be able to access digital currencies, stablecoins and tokenized assets under the same security and compliance standards used for traditional financial instruments.

Cecabank serves as a B2B infrastructure provider, allowing client banks and financial institutions to hold crypto assets, execute orders and process transfers without developing their own technology systems.

The bank’s strategy centers on two complementary infrastructure systems. One is a Luxembourg-based, pan-European distributed ledger technology (DLT) network that enables regulated institutions to register and trade tokenized assets. Cecabank helped establish the network and became the first Spanish institution to join.

The second infrastructure involves a consortium of 37 financial institutions developing a 1:1 euro-backed stablecoin for onchain payments and settlement. The project is awaiting electronic money institution approval from the Dutch central bank, while the consortium plans a commercial launch in the second half of 2026.

In addition, Cecabank took part in Spain’s first interbank trial of tokenized deposits in July 2026, testing systems that automate asset settlement while keeping claims directly on the bank’s balance sheet.

“Eighteen months after our branch opened, we can say with confidence that it was the right decision,” said Brenda Bol, Cecabank’s country head in Luxembourg, per the Delano report.

With a seat on the board of the Luxembourg Bankers’ Association (ABBL), Cecabank is now focused on completing its MiCA passporting process and bringing live digital asset services to local institutions.