On July 1, 2026, the European Union's Markets in Crypto-Assets Regulation (MiCA) transitional period ended, reducing the number of authorised crypto firms across the EEA to 280 from over 3,000.
Damoon Technology (Europe) AG, operating as Paymonade, gained full MiCA authorisation from Liechtenstein's Financial Market Authority. This permits the firm to offer regulated crypto-asset services throughout all 30 EEA countries under a single passport licence.
Paymonade provides fiat-to-crypto and crypto-to-fiat on-ramp and off-ramp infrastructure, catering to payment providers, fintechs, and cryptocurrency exchanges requiring euro and other fiat settlement options.
With an annual transaction volume approaching US$1.8 billion as of mid-2026, Paymonade ranks among the significant MiCA-licensed providers, particularly for institutional clients like banks and large exchanges operating in the EEA.
Despite its size and resources, only a fraction of the globe's top 100 crypto exchanges hold MiCA licences. Some major exchanges and at least one prominent stablecoin issuer remain unregistered under the new regulation.
Calvin Cheng, the Singaporean founder and CEO of Paymonade, also serves as Honorary Consul of Serbia to Singapore. His background includes leadership in regulated fintech firms, including a Swiss digital asset company recognised by FINMA and as a founding shareholder of Longbridge Securities.
The stringent MiCA framework has forced about 90% of Europe's crypto entities to either withdraw, restructure, or operate without a licence against EU law. Paymonade's authorisation stands out as a Singaporean-led firm successfully navigating these new rules.
This article is for informational purposes and does not constitute financial advice.
