Paymonade Meets New EU Crypto Regulations Amid Industry Shakeup
In a rapidly changing landscape of European cryptocurrency, the company Paymonade, founded by a Singaporean, stands out by successfully meeting the new regulations set forth by the EU. This comes at a time when approximately 90% of other European crypto businesses have been unable to comply, resulting in a substantial contraction within the market.
Paymonade, operating under the name Damoon Technology (Europe) AG, has been granted a license under the new Markets in Crypto-Assets Regulation (MiCA), making it one of only 280 companies across the European Economic Area (EEA) to achieve this milestone following the end of the transition period on July 1, 2026. Before MiCA regulations became fully enforceable, the EU had over 3,000 registered crypto companies operating under various national regulatory frameworks. Now, with the MiCA transition complete, only a small fraction of those have secured full EEA-wide permits, forcing many to either depart the market, restructure, or operate unlawfully without the necessary licenses.
The challenge of compliance has proven difficult for even the largest players in the crypto sector. Many of the top 100 exchanges, ranked by trading volume, still lack MiCA licenses, demonstrating the stringent nature of these new regulatory requirements. Significant international platforms, including some of the largest stablecoin issuers, are notably absent from the MiCA approved registry.
Operating from its headquarters in Liechtenstein, Paymonade has established itself as a regulated provider of on-ramp and off-ramp infrastructure for fiat-to-crypto and crypto-to-fiat transactions. The company caters to payment service providers, fintech firms, and exchanges that require reliable settlement infrastructure for euros and other fiat currencies. Its annual transaction volume is substantial, reaching $1.8 billion in the first half of 2026, positioning it prominently among providers of compliant fiat infrastructure under the MiCA regime. Notably, Paymonade serves several of the world's leading crypto exchanges as clients.
The company's founder, Calvin Cheng, is a seasoned entrepreneur with a strong background in the financial technology sector. A former member of the Singapore Parliament and current Honorary Consul of Serbia in Singapore, Cheng previously owned a Swiss digital assets company recognized by FINMA. His leadership and innovative vision have contributed to Paymonade's robust compliance capabilities, differentiating it in an industry still largely populated by European and American firms.
"The era of lightly regulated crypto is over," Cheng stated, emphasizing the importance of regulatory adherence in fostering innovation within the sector. He asserts that future leaders in digital assets will be those who successfully integrate innovation with regulatory trust. The firm aims to expand its European staff count in the coming year while targeting institutional clients. Cheng anticipates increasing the company's annual transaction volume to CHF 6 billion by mid-2027.
Milos Winter Bogdanovic, CEO of Damoon Technology (Europe) AG, highlighted the growing preference among banks and crypto firms for a single regulated infrastructure partner capable of operating across Europe. This shift indicates a trend where institutions prefer streamlined regulatory interactions rather than negotiating with multiple national markets.
Looking ahead, Paymonade's commitment to regulatory compliance and innovation positions it favorably in a rapidly evolving landscape. As it plans to invest in its workforce and expand its services, the company is set to play a significant role in the transitory phase of the cryptocurrency industry in Europe, navigating the challenges and opportunities presented by MiCA regulations.
Overall, Paymonade's achievements amid a stark industry shift illustrate not only its resolve in regulatory compliance but also the potential for growth and innovation in a sector increasingly defined by strict oversight. As exploration into digital assets continues, firms that can adapt to stringent regulations will likely define the future of the market.
Paymonade, operating under the name Damoon Technology (Europe) AG, has been granted a license under the new Markets in Crypto-Assets Regulation (MiCA), making it one of only 280 companies across the European Economic Area (EEA) to achieve this milestone following the end of the transition period on July 1, 2026. Before MiCA regulations became fully enforceable, the EU had over 3,000 registered crypto companies operating under various national regulatory frameworks. Now, with the MiCA transition complete, only a small fraction of those have secured full EEA-wide permits, forcing many to either depart the market, restructure, or operate unlawfully without the necessary licenses.
The challenge of compliance has proven difficult for even the largest players in the crypto sector. Many of the top 100 exchanges, ranked by trading volume, still lack MiCA licenses, demonstrating the stringent nature of these new regulatory requirements. Significant international platforms, including some of the largest stablecoin issuers, are notably absent from the MiCA approved registry.
Operating from its headquarters in Liechtenstein, Paymonade has established itself as a regulated provider of on-ramp and off-ramp infrastructure for fiat-to-crypto and crypto-to-fiat transactions. The company caters to payment service providers, fintech firms, and exchanges that require reliable settlement infrastructure for euros and other fiat currencies. Its annual transaction volume is substantial, reaching $1.8 billion in the first half of 2026, positioning it prominently among providers of compliant fiat infrastructure under the MiCA regime. Notably, Paymonade serves several of the world's leading crypto exchanges as clients.
The company's founder, Calvin Cheng, is a seasoned entrepreneur with a strong background in the financial technology sector. A former member of the Singapore Parliament and current Honorary Consul of Serbia in Singapore, Cheng previously owned a Swiss digital assets company recognized by FINMA. His leadership and innovative vision have contributed to Paymonade's robust compliance capabilities, differentiating it in an industry still largely populated by European and American firms.
"The era of lightly regulated crypto is over," Cheng stated, emphasizing the importance of regulatory adherence in fostering innovation within the sector. He asserts that future leaders in digital assets will be those who successfully integrate innovation with regulatory trust. The firm aims to expand its European staff count in the coming year while targeting institutional clients. Cheng anticipates increasing the company's annual transaction volume to CHF 6 billion by mid-2027.
Milos Winter Bogdanovic, CEO of Damoon Technology (Europe) AG, highlighted the growing preference among banks and crypto firms for a single regulated infrastructure partner capable of operating across Europe. This shift indicates a trend where institutions prefer streamlined regulatory interactions rather than negotiating with multiple national markets.
Looking ahead, Paymonade's commitment to regulatory compliance and innovation positions it favorably in a rapidly evolving landscape. As it plans to invest in its workforce and expand its services, the company is set to play a significant role in the transitory phase of the cryptocurrency industry in Europe, navigating the challenges and opportunities presented by MiCA regulations.
Overall, Paymonade's achievements amid a stark industry shift illustrate not only its resolve in regulatory compliance but also the potential for growth and innovation in a sector increasingly defined by strict oversight. As exploration into digital assets continues, firms that can adapt to stringent regulations will likely define the future of the market.
Topics Financial Services & Investing）
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