Paymonade has received a MiCA license, giving the company regulated access to the Euro Area market after the bloc’s July 1 compliance deadline. The approval allows the firm, formally Damoon Technology (Europe) AG, to continue offering crypto-asset services across all 30 nations in the market under the EU’s unified regime.
MiCA approval after the July 1 deadline
The license was granted by Liechtenstein’s Financial Market Authority, according to the company’s announcement cited in the source report. With the authorization, Paymonade joins a relatively small group of firms that cleared the transition into the EU’s new crypto framework. The source article said that only about 280 firms now hold full authorization for access to the Euro Area market.
The July 1 deadline marked a significant turning point for the regional crypto industry, as the long-anticipated Markets in Crypto-Assets regulation moved from transition to enforcement. The report said the EU has opted for a unified regulatory structure rather than returning crypto trading oversight to national supervisors, signaling a broader shift away from the lightly regulated conditions that had previously defined parts of the sector.
A fiat settlement provider for crypto businesses
Paymonade is described in the source as a commonly used fiat ramp for crypto traders. Its business focuses on settling fiat transactions for other crypto service providers, fintech companies, and exchanges that need to settle into euros or other fiat currencies.
That positioning has made the company part of the infrastructure layer serving institutional and platform clients rather than a retail-facing trading venue. In the first half of 2026, Paymonade said it reached an annualized transaction volume of $1.8 billion. The source report said that level places the firm among the European Union’s more liquid fiat infrastructure providers.
Growth plans in Europe
Following the licensing milestone, Paymonade said it plans to expand its European workforce. The company expects to double its payroll in Europe over the next 12 months as it pursues new institutional clients.
The source article also said Paymonade expects rapid turnover growth in 2027. In addition, it reported that the company expects annualized volume to rise to more than $7.4 million in the next year. The article did not provide further detail on how that projection relates to the company’s reported $1.8 billion annualized transaction volume in the first half of 2026.
Capital requirements and compliance framework
As part of its MiCA setup, the company uses an insurance policy supplied by a third-party entity to satisfy regulatory capital requirements, according to the source report. That policy remains effective for at least one year and includes a 90-day cancellation notice.
The license gives Paymonade the legal basis to continue operating its fiat settlement business throughout the Euro Area under the bloc’s single crypto rulebook. More broadly, the approval reflects how access to the European crypto market is now being narrowed to a smaller pool of fully authorized providers as MiCA takes hold.
Source: Cryptopolitan