As the lines between crypto and traditional finance continue to blur, providers like WALLETTO 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 and Chief Commercial Officer (CCO) of WALLETTO, a Lithuania-based financial institution supporting licensed crypto companies across Europe, 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. According to WALLETTO’s CCO, 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.”
WALLETTO operates in that critical middle space between compliance and performance. With infrastructure spanning IBAN issuance, card acquiring, BIN sponsorship, and API integration, it serves as a fiat backbone for crypto companies working within MiCA’s new boundaries.
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.”
WALLETTO’s solution is a full-stack infrastructure designed to reduce friction at every stage of a crypto company’s financial operations. It offers unique IBANs for business accounts, seamless payment acceptance through Visa, Mastercard, Apple Pay, Google Pay, and MB WAY, and a range of co-branded card programmes supported by BIN sponsorship. Customers also benefit from Mastercard World Business debit cards and a suite of developer tools and SDKs that enable them to build their own embedded finance products quickly and securely.
“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.
What distinguishes WALLETTO from many in the market is its alignment with regulators. Based in Lithuania — one of the EU’s leading fintech hubs — the firm operates under a full financial institution licence and works exclusively with licensed crypto entities.
“We’ve built everything with compliance at the core,” Istjagina explains. “It’s not an afterthought — it’s what makes partnerships with banks, payment networks, and institutional players possible.”
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
According to WALLETTO’s customer data, 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. WALLETTO offers physical and virtual cards — co-branded or white label — that integrate with global payment schemes. These allow crypto platforms to expand their user base, improve transaction success rates, and deliver a smoother customer experience.
“What we’re offering is not just tools — it’s a bridge between crypto ambition and financial execution,” Istjagina notes. “And we do it without sacrificing security or oversight.”
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.
“We see ourselves not just as a vendor, but as a strategic infrastructure partner,” she says. “That mindset changes how we approach onboarding, compliance, and scale.”
WALLETTO’s Lithuanian licence allows it to passport services across the EU, while its modular infrastructure helps clients tailor offerings to new markets without duplicating operational costs.
“When a firm wants to enter a new region, they shouldn’t have to rebuild their payment system from scratch,” says Istjagina. “We make it easier to plug in and go.”
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.”
That’s why WALLETTO is investing not just in speed or scalability, but in reliability — what Istjagina calls “infrastructure resilience.”
“We’ve been here long enough to know where the friction is. Our job is to remove it — so crypto companies can focus on growth.”
As the lines between crypto and traditional finance continue to blur, providers like WALLETTO 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.
WALLETTO is a licensed financial institution headquartered in Lithuania, offering fiat infrastructure, payment acquiring, card issuing, and business account services to regulated crypto companies across Europe. The company is a principal member of Visa and Mastercard and supports integration with Apple Pay, Google Pay, and other global schemes.