ONYZE receives regulatory approval to operate in Andorra

The move marks the Spanish firm’s first step outside its domestic market and forms part of its broader European regulatory strategy.  

The authorisation, granted under Andorra’s Law 24/2022 on digital assets, allows ONYZE to launch a subsidiary and begin local operations following completion of administrative formalities. Although Andorra is not part of the European Union and therefore not subject to the EU’s Markets in Crypto-Assets (MiCA) regulation, its legal framework shares key elements with EU standards, including provisions for transparency, investor protection, and anti-money laundering compliance.

Digital infrastructure to serve financial institutions

With dual licences for both custody and exchange services, ONYZE will offer its modular Web3 wallet platform to financial institutions, crypto exchanges, fintech startups, and other entities seeking to manage and trade digital assets under regulated conditions. 

Its custody licence allows the safeguarding of digital assets on behalf of third parties, incorporating a technology stack that includes segregated architecture by entity and asset, cold storage, hardware security modules (HSMs), multi-party computation (MPC), and cryptographic isolation. These systems are designed to ensure no single point of failure and are backed by insurance coverage and integrated compliance tools. 

Meanwhile, the exchange licence enables ONYZE to facilitate buying, selling, and transferring a range of digital assets, including cryptocurrencies, stablecoins, tokenised assets, and digital currencies. The infrastructure allows for integration with external liquidity providers, real-time pricing, and the execution of various order types, all accessible around the clock. 

According to representatives from ONYZE, the decision to expand into Andorra reflects the country’s growing role as a regional technology hub with an accommodating regulatory stance on financial innovation. Company officials indicated that the licencing milestone reinforces their strategy of aligning with jurisdictions that maintain rigorous standards while remaining supportive of digital asset development.