Digital Asset Firm ONYZE Expands into Andorra

The digital asset infrastructure company ONYZE has recently obtained authorization from Andorra’s financial regulator to provide regulated digital asset custody and exchange services within the country. This development represents ONYZE’s initial foray beyond its domestic market as part of its broader European regulatory strategy.

ONYZE’s authorization, granted under Andorra’s Law 24/2022 on digital assets, paves the way for the firm to establish a subsidiary and commence local operations after completing necessary administrative procedures. While Andorra is not part of the EU and thus outside the scope of the European Union’s Markets in Crypto-Assets (MiCA) regulation, its legal framework closely aligns with key EU standards such as transparency, investor protection, and anti-money laundering compliance.

Regulated Services for Financial Institutions

With licenses for both custody and exchange services, ONYZE is set to offer its modular Web3 wallet platform to a wide array of clients including financial institutions, crypto exchanges, fintech startups, and other entities requiring regulated management and trading of digital assets. Its custody service ensures the safekeeping of digital assets on behalf of third parties through technologies like segregated architecture by entity and asset, cold storage, hardware security modules (HSMs), multi-party computation (MPC), and cryptographic isolation. These systems are designed to eliminate single points of failure and come with insurance coverage and integrated compliance tools.

Its exchange service allows for buying, selling, and transferring a range of digital assets including cryptocurrencies, stablecoins, tokenized assets, and digital currencies. The platform supports integration with external liquidity providers, real-time pricing, and the execution of various order types available 24/7.

The decision by ONYZE to expand into Andorra underscores the country’s rising significance as a regional technology hub with a supportive regulatory environment for financial innovation. Company officials noted that this licensing milestone strengthens their commitment to aligning with jurisdictions that maintain high standards while fostering the growth of digital assets.