Paymonade Champions New European Crypto Regulation Amid Industry Shake-up
In a move that underscores both resilience and adaptability, Paymonade, officially recognized as Damoon Technology (Europe) AG, has successfully secured a license under the latest regulatory framework for cryptocurrencies in the European Economic Area (EEA). Following the full implementation of the EU’s Markets in Crypto-Assets Regulation (MiCA) on July 1, 2026, the company stands out as one of only 280 firms authorized to operate in a landscape previously populated by around 3,000 cryptocurrency enterprises. This drastic reduction represents a stunning 90% failure rate among existing firms, which either exited the market, restructured, or continued operations illegally, violating EU regulations.
Based in Liechtenstein, Paymonade’s license enables it to offer regulated crypto-asset services across 30 states in the EEA, a significant achievement in an industry that has faced one of its strictest regulatory consolidations in recent history. The stringent standards set forth by MiCA have proven to be a daunting hurdle, as even many of the largest exchanges in the cryptocurrency market have struggled to comply, leaving them unregistered and vulnerable.
Paymonade provides crucial infrastructure for the conversion of fiat currencies to cryptocurrencies and vice versa, making it an essential partner for payment providers, fintech firms, and cryptocurrency exchanges needing settlement systems denominated in euros and other fiat currencies. The company highlighted its substantial transaction volume, reaching an annualized total of $1.8 billion in the first half of 2026. This positions Paymonade among the leading providers of regulated conversion infrastructure, particularly for institutional clients like banks and cryptocurrency exchanges.
The visionary behind Paymonade is Calvin Cheng, a Singaporean entrepreneur with an impressive background in fintech. As a former member of Singapore’s parliament and the honorary consul for Serbia in Singapore, Cheng has steered the company toward remarkable growth and regulatory success. "The era of poorly regulated cryptocurrencies is drawing to a close," Cheng stated, emphasizing the importance of combining innovation with regulatory trust. This vision positions Paymonade as a potential leader in the next generation of digital asset firms.
"Regulatory compliance is becoming increasingly important, and institutions are looking for a single regulated infrastructure partner that can operate across Europe instead of navigating varying market regulations," noted Milos Winter Bogdanovic, CEO of Damoon Technology (Europe) AG. In response to the growing demand for regulated infrastructure, Paymonade is planning to double its European workforce within the next year and aims to amplify its transaction volume to 6 billion Swiss francs by mid-2027.
With regulations tightening, Paymonade’s dedication to maintaining compliance while delivering innovative cryptocurrency solutions positions it as an influential player in reshaping the cryptocurrency landscape in Europe. By bridging the gap between traditional finance and the burgeoning digital asset sector, Paymonade not only sets itself apart from other firms striving for regulatory approval but also signals a new era of accountability and trust within the cryptocurrency industry. As the market evolves, Paymonade aspires to lead the way towards a compliant and prosperous future in the world of digital assets.
Based in Liechtenstein, Paymonade’s license enables it to offer regulated crypto-asset services across 30 states in the EEA, a significant achievement in an industry that has faced one of its strictest regulatory consolidations in recent history. The stringent standards set forth by MiCA have proven to be a daunting hurdle, as even many of the largest exchanges in the cryptocurrency market have struggled to comply, leaving them unregistered and vulnerable.
Paymonade provides crucial infrastructure for the conversion of fiat currencies to cryptocurrencies and vice versa, making it an essential partner for payment providers, fintech firms, and cryptocurrency exchanges needing settlement systems denominated in euros and other fiat currencies. The company highlighted its substantial transaction volume, reaching an annualized total of $1.8 billion in the first half of 2026. This positions Paymonade among the leading providers of regulated conversion infrastructure, particularly for institutional clients like banks and cryptocurrency exchanges.
The visionary behind Paymonade is Calvin Cheng, a Singaporean entrepreneur with an impressive background in fintech. As a former member of Singapore’s parliament and the honorary consul for Serbia in Singapore, Cheng has steered the company toward remarkable growth and regulatory success. "The era of poorly regulated cryptocurrencies is drawing to a close," Cheng stated, emphasizing the importance of combining innovation with regulatory trust. This vision positions Paymonade as a potential leader in the next generation of digital asset firms.
"Regulatory compliance is becoming increasingly important, and institutions are looking for a single regulated infrastructure partner that can operate across Europe instead of navigating varying market regulations," noted Milos Winter Bogdanovic, CEO of Damoon Technology (Europe) AG. In response to the growing demand for regulated infrastructure, Paymonade is planning to double its European workforce within the next year and aims to amplify its transaction volume to 6 billion Swiss francs by mid-2027.
With regulations tightening, Paymonade’s dedication to maintaining compliance while delivering innovative cryptocurrency solutions positions it as an influential player in reshaping the cryptocurrency landscape in Europe. By bridging the gap between traditional finance and the burgeoning digital asset sector, Paymonade not only sets itself apart from other firms striving for regulatory approval but also signals a new era of accountability and trust within the cryptocurrency industry. As the market evolves, Paymonade aspires to lead the way towards a compliant and prosperous future in the world of digital assets.
Topics Financial Services & Investing）
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