The authorization is granted under Andorra’s Law 24/2022 on digital assets and will enable ONYZE to establish a subsidiary and commence local operations after completing necessary administrative procedures. Although Andorra is not an EU member state, its legal framework mirrors certain key elements of EU standards, including transparency, investor protection, and anti-money laundering compliance.
With the dual licenses for both custody and exchange services, ONYZE will offer its modular Web3 wallet platform to financial institutions, crypto exchanges, fintech startups, and other entities looking to manage and trade digital assets under regulated conditions. The company’s custody license covers the safekeeping of digital assets on behalf of third parties, featuring a technology stack with segregated architecture by entity and asset, cold storage, hardware security modules (HSMs), multi-party computation (MPC), and cryptographic isolation. These systems are designed to prevent single points of failure and are supported by insurance coverage and integrated compliance tools.
Meanwhile, the exchange license allows ONYZE to facilitate buying, selling, and transferring a range of digital assets, including cryptocurrencies, stablecoins, tokenized assets, and digital currencies. The infrastructure includes integration with external liquidity providers, real-time pricing, and support for various order types accessible around the clock.
According to representatives from ONYZE, their decision to expand into Andorra was driven by the country’s growing role as a regional tech hub with a favorable regulatory environment for financial innovation. Company officials noted that this licensing milestone solidifies their strategy of aligning with jurisdictions that uphold stringent standards while remaining supportive of digital asset development.
