Building the infrastructure for Europe’s next crypto growth wave

As the lines between crypto and traditional finance continue to blur, trusted providers are playing a central role in shaping what the future of payments looks like. As Europe cements its status as a global leader in crypto regulation, the conversation is shifting from policy announcements to operational realities. With the EU’s Markets in Crypto-Assets Regulation (MiCA) now fully enforced, licensed crypto companies are gearing up for growth — but many still face silent blockers in banking, payments, and infrastructure.

In this interview, Irina Istjagina, Board Member of WALLETTO, discusses the operational challenges and emerging solutions in the sector.

“MiCA has brought legal certainty — but that’s only the start,” says Istjagina.

“Companies are licensed, but still locked out of banking relationships or struggling with fragmented payment systems. That’s where the real bottlenecks are.”

A ground-breaking framework with practical gaps

MiCA is the first legislation of its kind to regulate crypto-assets at scale, introducing pan-European rules for trading, custody, and issuance. In its first six months of full implementation, nearly 40 crypto-asset service providers (CASPs) have secured authorisation — evidence that the industry is maturing. But regulatory clarity does not guarantee operational simplicity. Many companies remain stuck navigating inconsistent access to fiat services and slow onboarding processes.

“A licence helps with credibility, but it doesn’t solve everything,” Istjagina explains. “Cross-border transfers, payment acceptance, and integration into traditional financial rails are still difficult — especially when you’re trying to scale.”

Europe’s crypto user base is growing — but so are the friction points

Crypto adoption in Europe is accelerating quickly. User numbers are expected to rise from 50 million in 2024 to 218 million by 2025. Blockchain investment is increasing, and crypto’s role in day-to-day finance — from payroll to remittances — is expanding. Yet firms across the ecosystem face operational slowdowns.

“We still see new clients spending weeks just opening accounts,” says Istjagina. “That lag time is not compatible with modern fintech expectations.”

“Our partners range from agile start-ups to multinational platforms. What they all need is the ability to move money efficiently and compliantly,” Irina says. “Without that, even the best product stalls.”

 Europe’s strategic position in the global crypto landscape

While regulatory momentum has helped Europe leap ahead, global dynamics are playing a major role in shaping demand. Following setbacks in US crypto policy and fragmented licensing in Asia, many digital asset firms are looking to Europe as a base for international expansion. Access to 27 markets via passporting, regulatory consistency through MiCA, and a proactive supervisory stance from regulators like the Bank of Lithuania make the EU increasingly attractive to institutional players and start-ups alike.

“We’re seeing firms from Asia and the Middle East choosing Europe — not just for legal certainty, but because the infrastructure here is more mature,” says Istjagina. “It’s not just about launching — it’s about staying compliant while growing fast.”

This influx of interest is placing new demands on service providers. Interoperability with global schemes, fast onboarding, and regulatory-grade tooling are now expectations, not differentiators.

A compliance-first culture

As firms look to partner with traditional PSPs or expand across borders, embedded compliance — KYC, AML, and transaction monitoring — becomes not just a feature, but a competitive advantage.

“We’re seeing a shift in mentality. Today, crypto businesses want bank-grade compliance because they need it to scale,” Istjagina says.

What customers want: Infrastructure that works

Crypto firms entering or expanding in Europe are prioritising four things: rapid business account onboarding, flexible fiat payout and settlement options, scalable acquiring infrastructure, and reliable card issuing solutions.

The bigger shift: Crypto goes global — but needs local infrastructure

Looking ahead to 2025, Istjagina points to a defining trend: the globalisation of crypto services. Start-ups from APAC and the Middle East are seeking trusted partners in Europe, while EU-based firms are preparing to launch globally.

“When a firm wants to enter a new region, they shouldn’t have to rebuild their payment system from scratch,” says Istjagina.

Final thoughts: Why infrastructure wins

As crypto matures and regulation tightens, Irina believes the winners won’t be defined by who builds the flashiest product — but by who builds the most reliable engine beneath it.

“A great user experience only matters if your transactions settle,” she says. “If your payments fail or your fiat rails break, you lose users and trust.”

As the lines between crypto and traditional finance continue to blur, trusted providers are playing a central role in shaping what the future of payments looks like. Not just for Web3 firms, but for an entire generation of fintechs seeking speed, security, and compliance without compromise.