Singaporean Firm Navigates European Crypto Regulations to Gain MiCA Licence
The European Union's Markets in Crypto-Assets Regulation (MiCA) has completed its transitional period, and only 280 firms now hold full EEA-wide authorisation. This is a drastic reduction from the estimated 3,000-plus registered crypto firms operating under national regimes before MiCA took effect.
Among those that made the cut is Damoon Technology (Europe) AG, trading as Paymonade, which has been granted a MiCA licence by Liechtenstein's Financial Market Authority. This allows Paymonade to provide regulated crypto-asset services across all 30 states of the European Economic Area under a single passportable licence.
Paymonade is a Singaporean-founded firm that provides fiat-to-crypto and crypto-to-fiat on-ramp and off-ramp infrastructure, serving payment providers, fintechs, and cryptocurrency exchanges. The company has an annualised transaction volume run-rate of US$1.8 billion as of the first half of 2026.
Founder Calvin Cheng said, 'The era of lightly regulated crypto is ending. Getting this licence over the finish line shows the strength of the institution we've built.'