Blab Crypto
Paymonade Secures MiCA License, Gains Passporting Rights Across 30 EEA States
In a landmark move that could reshape the European crypto landscape, Paymonade, the Singapore‑founded payments infrastructure provider, has been granted a Markets in Crypto‑Assets (MiCA) licence by Liechtenstein’s Financial Market Authority (FMA). The approval gives the company a passport‑able licence that authorises it to deliver regulated crypto‑asset services across all 30 European Economic Area (EEA) member states under a single regulatory umbrella.
The decision arrives just months after the EU’s MiCA framework reached full applicability in December 2024, an effort to harmonise rules for digital‑asset service providers and strengthen consumer protection. Paymonade’s licence places it in a select cohort of firms that have successfully navigated the complex licensing process. According to industry estimates, roughly 90 % of crypto firms have struggled to obtain MiCA authorisation.
Operating under the trade name Damoon Technology (Europe) AG, Paymonade specialises in regulated fiat‑to‑crypto and crypto‑to‑fiat on‑ramp and off‑ramp infrastructure for payment providers, fintech companies and cryptocurrency exchanges. The company reported an annualised transaction volume run‑rate of $1.8 billion for the first half of 2026. Paymonade also outlined an aggressive growth plan, aiming to double its European headcount over the next 12 months and lift its annualised transaction volume to 6 billion Swiss francs (approximately $7.44 billion) by mid‑2027.
"The era of lightly regulated crypto is ending," said founder and chairman Calvin Cheng in a statement. "Getting this licence over the finish line, at a time when the vast majority of firms in our industry have not, shows the strength of the institution we’ve built." Cheng added that the next generation of digital‑asset companies would combine innovation with regulatory compliance.
Chief executive Milos Winter Bogdanovic noted that financial institutions are increasingly seeking a single regulated infrastructure partner capable of operating across Europe under one framework. "Banks, fintechs and exchanges increasingly want one regulated infrastructure partner that can operate across the whole of Europe rather than negotiating market‑by‑market," he said. Bogdanovic also highlighted ongoing discussions with exchanges, fintechs and banks that are looking for compliant European fiat infrastructure.
The MiCA licence grants Paymonade the ability to provide regulated crypto‑asset services throughout the EEA without the need for separate licences in each jurisdiction. The passporting mechanism, a cornerstone of MiCA, is designed to simplify cross‑border operations while reinforcing investor protection.
For Paymonade, the licensing milestone is a critical lever for its European expansion strategy. The company plans to use the licence to broaden its institutional client base and support the growth of its on‑ramp and off‑ramp services across the bloc. It also positions Paymonade as a potential partner for banks and fintechs that require a single, compliant infrastructure provider.
Industry observers point out that MiCA is reshaping competition among crypto service providers. Firms that secure a CASP (Crypto‑Asset Service Provider) licence are expected to gain a competitive advantage by accessing the entire EEA market under one regulatory umbrella.
Moving forward, Paymonade will need to maintain compliance with MiCA’s capital, governance and consumer‑protection requirements. The FMA will continue to monitor the firm’s operations, and Paymonade will likely report its performance to the FMA and to the European Securities and Markets Authority as part of the broader regulatory oversight.
In summary, Paymonade’s MiCA licence marks a key step in its European expansion strategy. The company has confirmed plans to double its European workforce, raise transaction volumes to 6 billion Swiss francs by mid‑2027, and deepen its institutional client relationships. The licence also underscores the growing importance of regulatory compliance for digital‑asset infrastructure providers operating across the EEA.
The decision arrives just months after the EU’s MiCA framework reached full applicability in December 2024, an effort to harmonise rules for digital‑asset service providers and strengthen consumer protection. Paymonade’s licence places it in a select cohort of firms that have successfully navigated the complex licensing process. According to industry estimates, roughly 90 % of crypto firms have struggled to obtain MiCA authorisation.
Operating under the trade name Damoon Technology (Europe) AG, Paymonade specialises in regulated fiat‑to‑crypto and crypto‑to‑fiat on‑ramp and off‑ramp infrastructure for payment providers, fintech companies and cryptocurrency exchanges. The company reported an annualised transaction volume run‑rate of $1.8 billion for the first half of 2026. Paymonade also outlined an aggressive growth plan, aiming to double its European headcount over the next 12 months and lift its annualised transaction volume to 6 billion Swiss francs (approximately $7.44 billion) by mid‑2027.
"The era of lightly regulated crypto is ending," said founder and chairman Calvin Cheng in a statement. "Getting this licence over the finish line, at a time when the vast majority of firms in our industry have not, shows the strength of the institution we’ve built." Cheng added that the next generation of digital‑asset companies would combine innovation with regulatory compliance.
Chief executive Milos Winter Bogdanovic noted that financial institutions are increasingly seeking a single regulated infrastructure partner capable of operating across Europe under one framework. "Banks, fintechs and exchanges increasingly want one regulated infrastructure partner that can operate across the whole of Europe rather than negotiating market‑by‑market," he said. Bogdanovic also highlighted ongoing discussions with exchanges, fintechs and banks that are looking for compliant European fiat infrastructure.
The MiCA licence grants Paymonade the ability to provide regulated crypto‑asset services throughout the EEA without the need for separate licences in each jurisdiction. The passporting mechanism, a cornerstone of MiCA, is designed to simplify cross‑border operations while reinforcing investor protection.
For Paymonade, the licensing milestone is a critical lever for its European expansion strategy. The company plans to use the licence to broaden its institutional client base and support the growth of its on‑ramp and off‑ramp services across the bloc. It also positions Paymonade as a potential partner for banks and fintechs that require a single, compliant infrastructure provider.
Industry observers point out that MiCA is reshaping competition among crypto service providers. Firms that secure a CASP (Crypto‑Asset Service Provider) licence are expected to gain a competitive advantage by accessing the entire EEA market under one regulatory umbrella.
Moving forward, Paymonade will need to maintain compliance with MiCA’s capital, governance and consumer‑protection requirements. The FMA will continue to monitor the firm’s operations, and Paymonade will likely report its performance to the FMA and to the European Securities and Markets Authority as part of the broader regulatory oversight.
In summary, Paymonade’s MiCA licence marks a key step in its European expansion strategy. The company has confirmed plans to double its European workforce, raise transaction volumes to 6 billion Swiss francs by mid‑2027, and deepen its institutional client relationships. The licence also underscores the growing importance of regulatory compliance for digital‑asset infrastructure providers operating across the EEA.
