Paymonade’s MiCAR license has secured the company’s regulated access to the European market after Liechtenstein’s Financial Market Authority approved Damoon Technology Europe AG.
The company, trading as Paymonade, cleared the July 1 deadline that left only 280 crypto asset service providers fully authorized across the region.
The approval allows Paymonade to offer regulated crypto asset services across all 30 nations in the Euro Area. European authorities have adopted a unified framework, with no announced plan to return crypto trading oversight to separate national regulators.
“The era of lightly regulated crypto is ending,” said Calvin Cheng, founder and chairman of Paymonade.
“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. We expect the next generation of leaders in digital assets to be firms that pair innovation with regulatory trust, and we intend to be one of them.”
MiCAR Approval Supports European Operations
Paymonade provides fiat ramp services for crypto traders and settles fiat transactions for crypto service providers, fintech companies, and exchanges. These clients use its infrastructure to convert funds into euros or other fiat currencies.
The company recorded an annualized transaction volume of $1.8 billion based on its performance during the first half of 2026. According to the supplied information, that level places Paymonade among the European Union’s most liquid fiat infrastructure providers.
Only 280 Firms Retain Full Authorization
Only one in 10 firms secured full authorization by the July 1 deadline. More than 3,000 crypto companies had previously operated in Europe under registrations and restrictions imposed by local financial authorities.
Firms without full approval must leave the market, restructure their operations, or continue operating in breach of the law. Some companies are still seeking authorization. Even Binance did not clear the MiCAR requirements before the deadline.
Paymonade said its authorization protects its European position and reduces the risk of an abrupt closure that could disrupt clients moving funds. The company now enters the regulated market while several large competitors remain without full approval.
Insurance Policy Meets MiCAR Capital Rules
Damoon Technology met MiCAR’s Article 67 regulatory capital requirements through an insurance policy provided by a third party. The policy is published transparently on the company’s website.
The insurance remains valid for at least one year and includes a 90-day cancellation notice period. Paymonade chief executive Milos Winter Bogdanovic is responsible for updating the policy and keeping it publicly available.
Paymonade plans to double its European workforce during the next 12 months as it adds institutional clients. The company also expects rapid turnover growth in 2027 and projects annualized volume above $7.4 million within the coming year.
