20th july 2026
By Shubhii Verma
Paymonade Receives MiCA License for European Operations
Singapore-founded cryptocurrency infrastructure provider Paymonade has secured authorisation under the European Union’s Markets in Crypto-Assets (MiCA) regulation, becoming one of the relatively few crypto firms licensed to operate across the European Economic Area (EEA) following the implementation of the bloc’s comprehensive digital asset rules.
The authorisation was granted to Damoon Technology (Europe) AG, which operates under the Paymonade brand, by the Financial Market Authority (FMA) of Liechtenstein. The MiCA license allows the company to provide regulated crypto-asset services across all 30 EEA member states through a single passportable license, eliminating the need for separate approvals in individual countries.
The approval comes as Europe’s crypto industry undergoes a significant regulatory transition. Before MiCA took full effect, more than 3,000 cryptocurrency companies operated under varying national regulatory regimes across the European Union. However, following the end of the transition period on July 1, 2026, only around 280 firms have obtained full MiCA authorisation. This means that a large majority of previously registered crypto businesses have either exited the European market, restructured their operations, or are no longer authorised to provide services under the new regulatory framework.
Paymonade provides fiat-to-crypto and crypto-to-fiat payment infrastructure, enabling banks, fintech companies, payment providers, and cryptocurrency exchanges to seamlessly convert between digital assets and traditional currencies. The company specialises in providing euro and other fiat settlement services to institutional clients operating across Europe.
According to the company, Paymonade has reached an annualised transaction volume of approximately US$1.8 billion during the first half of 2026. Its client base includes several major global cryptocurrency exchanges, positioning the firm as one of the larger regulated fiat on-ramp and off-ramp infrastructure providers operating under the MiCA framework.
The company was founded by Calvin Cheng, a Singaporean entrepreneur and former appointed Member of Parliament in Singapore. Cheng said the successful licensing demonstrates the company’s commitment to combining innovation with regulatory compliance as the digital asset industry matures.
Paymonade Chief Executive Officer Milos Winter Bogdanovic said financial institutions increasingly prefer working with a single regulated infrastructure provider capable of operating across the entire European market rather than navigating multiple national regulatory systems. He added that the company is actively engaging with banks, fintech firms, and cryptocurrency exchanges seeking compliant payment infrastructure within Europe.
Future Expansion and Institutional Demand
Looking ahead, Paymonade plans to expand its European operations by doubling its regional workforce over the next year while targeting annualised transaction volumes of approximately CHF 6 billion by mid-2027. The expansion reflects growing institutional demand for regulated crypto payment infrastructure as Europe’s new digital asset regulations reshape the industry’s competitive landscape.
