Two cryptocurrency payments and infrastructure firms—BitPay and Paymonade—have officially obtained authorisation under the European Union’s Markets in Crypto-Assets Regulation (MiCA), joining a shrinking pool of just 280 companies licensed to operate across the entire European Economic Area. Their approvals come as the EU’s transitional period ended on 1 July 2026, pushing an estimated 90% of previously registered crypto firms out of the bloc or into non-compliance.
BitPay secured its MiCA licence via a Dutch subsidiary, BitPay B.V., authorised by the Dutch Authority for the Financial Markets (AFM). The licence allows the veteran payments processor to expand regulated cryptocurrency and stablecoin payment processing, cross-border settlements, and digital asset services into all 30 EEA states through the passporting framework. Thom de Jong, BitPay’s Chief Compliance Officer Europe, called the approval “an important milestone” that validates the company’s compliance-first approach and strengthens its European expansion. The firm placed notable emphasis on stablecoins, describing them as a growing part of its strategy for commercial settlement alongside traditional crypto payments.
Paymonade—the trading name of Damoon Technology (Europe) AG—received its MiCA licence from Liechtenstein’s Financial Market Authority (FMA). The Singaporean-founded company operates a fiat-to-crypto and crypto-to-fiat on/off ramp infrastructure with an annualised transaction volume run rate of US$1.8 billion as of mid-2026. Its client base includes major global crypto exchanges. Founder Calvin Cheng stated, “The era of lightly regulated crypto is ending,” while CEO Milos Winter Bogdanovic highlighted growing demand for a single regulated partner covering all of Europe. Paymonade plans to double its European headcount and increase annualised volume to CHF 6 billion by mid-2027.
MiCA’s consolidation has been drastic: before full implementation, roughly 3,000 crypto firms operated under national regimes; now only 280 hold EEA-wide authorisation. Many of the world’s largest exchanges and at least one major stablecoin issuer remain absent from the official register. The licensing of BitPay and Paymonade underscores a broader shift where regulated payments infrastructure becomes a competitive advantage, as merchants and institutions seek compliant partners for digital asset settlement across the EU.
