Bank Institutions
As of 2026, institutional Bitcoin and Ethereum holdings have reached record levels. Banks can unlock significant interest income by providing liquidity to clients who refuse to sell their assets (avoiding taxable events and maintaining long-term exposure). We expect "Crypto-Lombard Loans" to become a standard product in European private banking, treated with the same maturity as loans against blue-chip stocks
Non-Banking & Fintechs
Non-banking lenders (Fintechs, Private Credit Funds, and Specialized Lenders) have a unique "speed and scale" advantage. Non-banks can offer more aggressive Loan-to-Value (LTV) ratios (e.g., 70-80% for BTC) by using advanced, proprietary liquidation engines that operate 24/7—something traditional bank legacy systems often struggle with
Hardware Wallets Providers, Crypto Custody & CEX Exchanges
In the 2026 European financial landscape, the maturation of the MiCA framework and the ECB’s inclusion of DLT assets as eligible collateral have transformed crypto-fiat lending into a systemic financial service.
By integrating lending protocols directly into their native apps, hardware wallet companies can earn origination fees or referral commissions every time a user pledges their "cold" assets for a fiat loan
