Penning acquires Veli's wealth-management business to launch Penning Wealth

This announcement was issued jointly by Penning and Veli on 4 June 2026. Learn more about Penning Wealth.

Copenhagen & Vilnius, 4th June 2026 — Penning, one of Denmark's first MiCA-licensed crypto-asset service providers, today announced the acquisition of Veli's wealth-management business — the Lithuanian crypto investment platform serving long-term investors and the advisors who serve them. The new offering will be launched as Penning Wealth and operate as the wealth-management arm of Penning.

Existing Veli clients across Europe will be migrated to Penning Wealth in a single coordinated cutover. The familiar Veli products, advisor portal and customer experience will continue without disruption, now under the Penning Wealth name and operating under Penning's MiCA authorisation passported across the EU and EEA.

Founded by a team with deep institutional and crypto-investing experience, Veli has built a crypto investment platform designed for long-term investors and the financial advisors who serve them. Veli's products include curated investment strategies ranging from conservative bitcoin-anchored portfolios to balanced and top-10 crypto indices, designed for long-term holders rather than active traders.

By acquiring Veli's client base and licensing its platform gives Penning a mature investment platform to anchor the new Penning Wealth proposition. Rather than build a wealth-management product from scratch, Penning gains a battle-tested experience already trusted by clients across Europe, accelerating time-to-market and broadening its addressable market beyond active traders to the much larger pool of long-term investors. The combined offering positions Penning as a one-stop, fully MiCA-licensed home for European clients who want to trade, swap and invest in digital assets under a single regulated roof — combining a dedicated wealth-management product set with its existing brokerage business and active portfolio management via its strategic Edge and Trade investment packages.

"Veli was built for the people who want to invest in crypto, not trade it," said 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."

Jimmie Hansen Steinbeck, CEO of Penning, added: "Penning Wealth is a natural extension of what we already do. Veli's platform brings us a mature product, a loyal client base, and a team that has spent years thinking about how ordinary investors actually want to own crypto. It makes Penning a complete, fully regulated home for digital-asset investors across Europe. Furthermore, 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."

Veli's clients were notified about the migration on 25 May 2026. The migration is due to be completed by the end of June 2026, ahead of the expiry of Veli's existing Bulgarian VASP registration on 1 July 2026, after which Penning's full Danish MiCA authorisation becomes the regulatory home for the combined client base.

About Penning#

Founded in Copenhagen, Penning is among the first crypto firms in Denmark to receive a full Crypto-Asset Service Provider (CASP) authorization under MiCA. Crucially, this regulatory milestone grants Penning the license to operate 7 out of the 10 defined core services under MiCA. Most notably, its authorization explicitly encompasses the portfolio management of crypto-assets, seamlessly passported across all EU and EEA member states. Today, Penning offers highly regulated trading, swapping, OTC, and discretionary investment services. The platform supports over 190+ digital assets across more than 30 blockchain networks—all with direct delivery to the client's own wallet, transparent pricing, and a strict compliance framework tailored for both European retail and institutional clients. www.penning.io

About Veli#

Veli UAB is a Lithuania-headquartered crypto investment platform serving retail investors and financial advisors across the EU. Veli's products include curated investment strategies ranging from conservative bitcoin-anchored portfolios to balanced and top-10 crypto indices, designed for long-term holders rather than active traders. Following this transition, Veli's regulated wealth-management business will operate as Penning Wealth. www.veli.io

Media contacts#

• Penning Financial Services ApS — press@penning.io
• Veli UAB — press@veli.io

Notes to editors#

The transaction comprises the acquisition by Penning of Veli's regulated wealth-management business and European client base, together with a perpetual license of the Veli investment platform. Veli UAB continues to operate as a separate legal entity under its existing ownership. Specific commercial terms are not being disclosed.

Disclaimer: Crypto-assets are highly volatile and the value of investments can fall as well as rise; past performance is not a guarantee of future results. Penning does not provide investment advice or recommendations. Penning Financial Services ApS is licensed by the Danish Financial Supervisory Authority (Finanstilsynet) as a Crypto-Asset Service Provider under MiCA (FTID 10902).

Coverage#

The announcement was covered across European fintech and business media, including:

• The Fintech Times
• FinansWatch — Danish
• Kaupr — Danish
• Bloomberg Adria — Serbian
• Forbes Serbia — Serbian
• Citywire Italia — Italian
• The Paypers
• Disruption Banking
• Brutkasten — German
• Netokracija — Serbian
• Ekapija — Serbian