Paymonade Achieves Compliance with EU Cryptocurrency Regulations Amid Industry Challenges
In a significant development within the European cryptocurrency landscape, Paymonade, a company established in Singapore, has successfully achieved compliance with recent cryptocurrency regulations, specifically the MiCA (Markets in Crypto-Assets) regulation. This achievement is particularly notable considering that approximately 90% of European firms in the cryptocurrency sector have been unable to meet the stringent requirements set forth under these new guidelines.
The MiCA regulation aims to provide a consolidated legal framework for cryptocurrency operations across the European Economic Area (EEA), addressing the massive number of over 3,000 firms that previously operated under a patchwork of varying national regulations. As of July 1, 2026, the transition period concluded, and only about 280 firms have secured the necessary licenses to operate legitimately within the EEA. This leaves a vast majority of companies either out of the market or operating illegally without a proper license.
Paymonade, operating under Damoon Technology (Europe) AG, has successfully received a MiCA license from the Financial Market Authority of Liechtenstein (FMA). This license empowers Paymonade to provide regulated cryptocurrency services across all 30 member countries of the EEA, simplifying operations for both the company and its clients, including payment providers, fintech firms, and cryptocurrency platforms that require fiat and crypto transaction infrastructure.
Founded by Calvin Cheng, a respected figure in the fintech industry, Paymonade has quickly solidified its position as a leading provider of fiat-crypto and crypto-fiat conversion infrastructures. With an impressive annualized transaction volume of USD 1.8 billion for the first half of 2026, the company is rapidly expanding its influence within the regulated MiCA environment, particularly among institutional clients like cryptocurrency exchanges and banks.
Calvin Cheng, who has an extensive background in the fintech sector, noted that navigating the regulatory landscape has been no small feat, even for well-resourced companies. Despite being among the major players in the cryptocurrency sector, many have struggled to secure MiCA licenses. Cheng expressed confidence in Paymonade’s future, stating, "The era of unregulated cryptocurrency is coming to an end. Gaining this license amid a wave of failures speaks to the robustness of the institution we’ve built. The next generation of digital asset leaders will be those that integrate innovation with regulatory reliability, and we intend to be part of that future."
Cheng highlighted the emerging trend among banks and fintechs to partner with a single regulated infrastructure provider rather than navigating the complex regulations of each individual market. With Paymonade’s recent success, there is growing interest among financial institutions in its services tailored for seamless cross-border fiat transactions within Europe.
Looking ahead, Paymonade plans to double its workforce in Europe within the next year as it continues to onboard new institutional clients. By mid-2027, the company aims to elevate its annualized transaction volume to an impressive CHF 6 billion.
As a regulated digital asset infrastructure provider based in Liechtenstein, Paymonade enables its clients, including banks, fintechs, payment providers, and cryptocurrency exchanges, to seamlessly bridge traditional finance with the growing digital asset economy, employing scalable and compliant solutions across the EEA.
The MiCA regulation, while posing challenges for many companies, can be seen as a pathway toward greater legitimacy and stability for the cryptocurrency sector as a whole. Paymonade’s journey can serve as a case study for other businesses in navigating the transformative regulatory landscape ahead.
For more information about Paymonade, visit their website at www.paymonade.tech.
The MiCA regulation aims to provide a consolidated legal framework for cryptocurrency operations across the European Economic Area (EEA), addressing the massive number of over 3,000 firms that previously operated under a patchwork of varying national regulations. As of July 1, 2026, the transition period concluded, and only about 280 firms have secured the necessary licenses to operate legitimately within the EEA. This leaves a vast majority of companies either out of the market or operating illegally without a proper license.
Paymonade, operating under Damoon Technology (Europe) AG, has successfully received a MiCA license from the Financial Market Authority of Liechtenstein (FMA). This license empowers Paymonade to provide regulated cryptocurrency services across all 30 member countries of the EEA, simplifying operations for both the company and its clients, including payment providers, fintech firms, and cryptocurrency platforms that require fiat and crypto transaction infrastructure.
Founded by Calvin Cheng, a respected figure in the fintech industry, Paymonade has quickly solidified its position as a leading provider of fiat-crypto and crypto-fiat conversion infrastructures. With an impressive annualized transaction volume of USD 1.8 billion for the first half of 2026, the company is rapidly expanding its influence within the regulated MiCA environment, particularly among institutional clients like cryptocurrency exchanges and banks.
Calvin Cheng, who has an extensive background in the fintech sector, noted that navigating the regulatory landscape has been no small feat, even for well-resourced companies. Despite being among the major players in the cryptocurrency sector, many have struggled to secure MiCA licenses. Cheng expressed confidence in Paymonade’s future, stating, "The era of unregulated cryptocurrency is coming to an end. Gaining this license amid a wave of failures speaks to the robustness of the institution we’ve built. The next generation of digital asset leaders will be those that integrate innovation with regulatory reliability, and we intend to be part of that future."
Cheng highlighted the emerging trend among banks and fintechs to partner with a single regulated infrastructure provider rather than navigating the complex regulations of each individual market. With Paymonade’s recent success, there is growing interest among financial institutions in its services tailored for seamless cross-border fiat transactions within Europe.
Looking ahead, Paymonade plans to double its workforce in Europe within the next year as it continues to onboard new institutional clients. By mid-2027, the company aims to elevate its annualized transaction volume to an impressive CHF 6 billion.
As a regulated digital asset infrastructure provider based in Liechtenstein, Paymonade enables its clients, including banks, fintechs, payment providers, and cryptocurrency exchanges, to seamlessly bridge traditional finance with the growing digital asset economy, employing scalable and compliant solutions across the EEA.
The MiCA regulation, while posing challenges for many companies, can be seen as a pathway toward greater legitimacy and stability for the cryptocurrency sector as a whole. Paymonade’s journey can serve as a case study for other businesses in navigating the transformative regulatory landscape ahead.
For more information about Paymonade, visit their website at www.paymonade.tech.
Topics Financial Services & Investing）
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