Singaporean Paymonade Clears EU Crypto Regulations as Most Firms Fall Short

The European Union's crypto industry has undergone significant consolidation under new regulations. As of July 1, 2026, only 280 firms have been granted full EEA-wide authorisation to operate under MiCA (Markets in Crypto-Assets Regulation). This leaves around 90% of previously registered crypto firms without a licence.

Among those who have cleared the bar is Paymonade, a Singaporean-founded and led firm. Damoon Technology (Europe) AG, trading as Paymonade, has been granted a MiCA licence by Liechtenstein's Financial Market Authority, allowing it to provide regulated crypto-asset services across 30 European Economic Area states.

Paymonade is a fiat-to-crypto and crypto-to-fiat on-ramp and off-ramp infrastructure provider serving payment providers, fintechs, and cryptocurrency exchanges. It has an annualised transaction volume run-rate of US$1.8 billion as of the first half of 2026.