Paymonade Adapts to New European Cryptocurrency Regulations Amidst Industry Turmoil

Paymonade Triumphs Amid Regulatory Challenges in European Crypto Landscape

The cryptocurrency sector in Europe is undergoing one of the most stringent regulatory consolidations in its history. As the implementation of the Markets in Crypto-Assets (MiCA) regulation came into full effect on July 1, 2026, a striking transformation has taken place: of the over 3,000 cryptocurrency companies previously registered in the European Economic Area (EEA), only about 280 managed to secure full authorization under the new regulatory framework. This means roughly 90% of these firms have either exited the market, restructured, or are now operating without licenses, violating EU law.

Among those that successfully navigated this complex regulatory environment is Damoon Technology (Europe) AG, known as Paymonade. With its MiCA license granted by the Financial Markets Authority of Liechtenstein (FMA), Paymonade is now authorized to offer regulated cryptocurrency services across all 30 countries of the EEA with a single license. This competitive advantage positions Paymonade well in an industry that remains in turbulent waters, particularly for many of the significant players who continue to struggle with compliance.

Notably, an independent analysis illustrates that only a handful of the world's top 100 cryptocurrency exchanges by trading volume have successfully obtained MiCA authorization. Moreover, several prominent global exchanges and at least one major stablecoin issuer still do not appear in the register as of this press release, highlighting the high barriers to entry that the new regulation imposes, even for established industry leaders.

Paymonade specializes in providing regulated infrastructure for fiat-to-crypto and crypto-to-fiat conversions, serving payment service providers, fintech companies, and cryptocurrency exchanges that require efficient euro settlement systems. With an impressive annualized transaction volume of USD 1.8 billion in the first half of 2026, the company is solidifying its position as a leading infrastructure provider under the MiCA regime, particularly among institutional clients that include major exchanges and banks.

Founded and led by Calvin Cheng, a Singapore citizen and former Singaporean parliament member, Paymonade draws from Cheng's extensive experience in fintech. His background includes a track record of navigating regulatory environments, having founded a Swiss company specializing in digital assets that is admitted to the VQF, a self-regulatory organization acknowledged by FINMA. Cheng's leadership not only reflects expertise but also symbolizes a fresh perspective in the MiCA landscape, which has predominantly been claimed by European and American entities. "The era of unregulated cryptocurrencies is coming to an end," Cheng commented. He emphasized that obtaining this license amidst a backdrop of failure for many companies demonstrates the strength of their established institution.

According to Milos Winter Bogdanovic, CEO of Damoon Technology (Europe) AG, there is a growing trend among banks, fintechs, and exchanges to seek a single infrastructure partner that can operate across Europe rather than negotiating on a market-by-market basis. Paymonade is currently engaged in active discussions with various exchanges and financial institutions to provide compliant infrastructure.

Looking forward, Paymonade intends to double its European workforce over the next year as it continues to acquire new institutional clients, targeting an increased annual transaction volume of up to CHF 6 billion by mid-2027. This growth strategy underscores Paymonade's commitment to being at the forefront of a rapidly evolving industry.

In conclusion, as the regulatory landscape continues to redefine the European cryptocurrency market, Paymonade stands out as a beacon of compliance and innovation. Leveraging their MiCA authorization, they are well-positioned to lead the charge into a more regulated and trustworthy future for digital assets in Europe.

For more information on Paymonade and its services, visit www.paymonade.tech.