In a consolidation move within the European digital asset landscape, Penning, one of the first Danish crypto-asset service providers to secure a full license under the EU’s Markets in Crypto-Assets (MiCA) regulation, has acquired the wealth-management business of Lithuanian crypto investment platform Veli.
The newly absorbed unit will be rebranded as Penning Wealth and will serve as the dedicated wealth-management arm of the Copenhagen-headquartered firm.
Under the terms of the transaction, Penning is acquiring Veli’s regulated wealth business and its established European client base, alongside a perpetual license to utilize Veli’s proprietary investment platform software. Veli UAB will continue to operate as a separate legal entity under its existing ownership, and the specific financial terms of the deal remain undisclosed.
A Coordinated, Disruption-Free Migration
The integration of the two user bases is slated for completion by the end of June 2026 through a single, coordinated systems cutover. To preserve customer retention, Penning has committed to maintaining complete continuity across Veli’s existing product suite, advisor portal, and user experience.
The fundamental change for Veli’s clients will be regulatory: their accounts will migrate cleanly under Penning’s existing MiCA authorization, which is fully passported across all EU and EEA member states.
Shifting from Speculative Trading to Long-Term Wealth
The acquisition gives Penning immediate access to a mature, battle-tested product framework tailored specifically for passive wealth accumulation. While first-generation crypto platforms have historically relied on transaction fees generated by high-velocity, speculative day traders, the market is shifting toward structured, passive portfolios.
Veli’s underlying infrastructure was engineered by an institutional investment team to cater to long-term digital asset holders and the financial advisors who manage their wealth. The acquired strategy portfolio features:
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Bitcoin-Anchored Portfolios: Conservative, BTC-heavy asset allocations designed to mitigate extreme downside volatility.
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Balanced Allocations: Multi-asset strategies optimized for steady, cyclical growth.
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Top-10 Crypto Indices: Automated, index-linked baskets tracking the largest digital assets by market cap.
By absorbing this infrastructure, Penning effectively bypasses a lengthy software development lifecycle, accelerating its time-to-market while positioning itself as a one-stop digital asset ecosystem. Users will now be able to trade, swap, access OTC desks, and deploy automated discretionary portfolios under a single compliant roof.
“Veli was built for the people who want to invest in crypto, not trade it,” stated Stevan Radonjanin, CEO of Veli. “Combining that platform with Penning’s MiCA licence gives our clients a stronger long-term regulatory home, and gives Penning a real head-start in what we expect to be the fastest-growing segment of European digital assets over the next five years.”
The RWA Resurgence Under MiCA Passporting
The primary catalyst driving the scale of this transaction is the expansive scope of Penning’s regulatory framework. Authorized by the Danish Financial Supervisory Authority (Finanstilsynet), Penning holds a rare asset management credential, allowing it to legally execute 7 out of the 10 core services defined under MiCA. Most notably, this includes the discretionary portfolio management of crypto-assets.
Jimmie Hansen Steinbeck, CEO of Penning, highlighted that the regulatory passporting capabilities across the EEA will allow the company to immediately reactivate one of Veli’s most popular asset categories.
“Holding all the required licenses to operate across Europe and the EEA allows us to reintroduce Veli’s most popular investment package focused on Real-World Assets (RWA)—a sector we strongly believe will become a major investor favorite in the near future,” Steinbeck noted.
As the strict compliance guidelines mandated by MiCA continue to squeeze unregulated or offshore operators out of the European market, consolidated alliances like the Penning-Veli deal are defining the new playbook for institutional-grade digital asset management. By backing its extensive multi-chain brokerage network—which spans 190-plus digital assets across 30 distinct blockchains—with secure, segregated client custody and specialized advisory software, Penning is aggressively positioning itself to control Europe’s regulated capital flows.
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