- Regulated infrastructure is increasingly essential to the launch of cryptocurrency goods as compliance requirements rise.
- Businesses may include certain cryptoasset services, including as purchasing, selling, exchanging, and custody, straight into their own platforms using Venga’s API-first platform.
Under MiCA, the European cryptocurrency market is about to enter a new stage. Businesses wishing to provide digital asset services are increasingly faced with a strategic decision: either develop and maintain regulated infrastructure internally or collaborate with providers who have already done so, as the new regulatory framework increases the operational, compliance, and capital requirements for Crypto-Asset Service Providers (CASPs).
The industry is already seeing the effects of MiCA. Many businesses that used to operate in Europe are still pursuing authorization or have had to modify their products in order to comply with the new regulations. Regulated infrastructure is increasingly essential to the launch of cryptocurrency goods as compliance requirements rise.
In light of this, Venga is introducing a new API-first B2B solution that allows third parties to use the technology and regulated operational infrastructure created for its own consumer platform.
“MiCA has changed the economics of building a crypto business in Europe. As the cost and complexity of operating regulated infrastructure increase, we expect more companies to focus on the user experience, branding and customer relationships where they create value, while relying on specialised providers for the infrastructure underneath. Not every company needs to become a full-stack crypto operator. We built Venga to operate under the new European framework, and now we are opening that infrastructure to other businesses,” said Michael Stroev, Co-founder and CEO of Venga.
Assisting Businesses in Introducing Regulated Cryptocurrency Products
Businesses may include certain cryptoasset services, including as purchasing, selling, exchanging, and custody, straight into their own platforms using Venga’s API-first platform.
Customer onboarding, KYC, AML, regulatory reporting, and compliance management within the relevant partnership model are all supported by Venga’s regulated operating layer. Partners are able to concentrate on business growth and distribution instead of regulatory operations since they maintain complete control of their brand, customer experience, and customer integrations.
The offering is intended for enterprises that want to streamline their cryptocurrency operations, fintechs and financial institutions that want to integrate digital assets to their current offerings, and foreign organizations who want to enter the European market.
Investing on Shared Infrastructure Instead of Regulations
Venga was designed with the European regulatory framework in mind from the beginning. Its consumer platform’s technology, operational capabilities, and compliance processes were created to satisfy the demands of functioning as a regulated Crypto-Asset Service Provider.
After receiving MiCA authorization from the Spanish National Securities Market Commission (CNMV), Venga is now opening up portions of its infrastructure to outside parties, establishing a new B2B business line in addition to its consumer platform.
Venga thinks regulated infrastructure will eventually become a shared foundation that allows more businesses to offer compliant cryptocurrency products to European consumers while concentrating their own resources on innovation, expansion, and user experience, as opposed to positioning infrastructure as a competitive differentiator accessible only to a single platform.
In 2023, Venga, a provider of cryptocurrency asset services, was established in Barcelona. Its goal is to make digital assets available to a wider audience by providing a straightforward, regulated, and accessible experience in English, Spanish, and Catalan.
