Exploring the Chaotic Crypto Landscape with Venga’s CEO Michael Stroev (Interview at Paris Blockchain Week)

During the 2025 Paris Blockchain Week, Michael Stroev, the CEO of Venga, shared insights on how his company is adapting within the rapidly changing digital finance arena.

Venga emphasizes accessibility, education, and innovation to tackle significant obstacles hindering widespread acceptance of cryptocurrencies and decentralized finance (DeFi).

Enhancing Crypto Access for Everyone

Venga officially debuted in September 2024 with the goal of simplifying entry into the cryptocurrency market. Stroev mentioned that the platform allows users to deposit euros, purchase cryptocurrencies, and either transfer their assets to a decentralized wallet or retain them within Venga for various services.

“Our objective as a team is to translate DeFi innovations, previously associated with Web3, for the general public,” said Stroev.

He pointed out that while basic services such as euro deposits and withdrawals are provided, Venga prioritizes promoting decentralized technology over merely replicating conventional financial offerings.

Currently, Venga offers IBAN accounts for fiat transactions, but Stroev highlighted that traditional finance elements are not the main focus. “Our emphasis remains firmly on innovation in the Web3 and DeFi sectors,” he remarked, indicating potential future fintech products.

Addressing Education and Discovery Challenges

Stroev identified two significant obstacles to widespread cryptocurrency adoption: education and discovery. Although awareness of cryptocurrencies like Bitcoin and Ethereum has surged, he believes the public remains largely unaware of the full potential of Web3 technologies.

“Education remains a substantial barrier to entry into this space,” Stroev commented.

He stressed that users require better tools for identifying trustworthy projects before education can effectively take place. Reflecting on his experiences, he described the current project discovery process as labor-intensive and convoluted, often necessitating attendance at events such as the Paris Blockchain Week or extensive social media research.

According to Stroev, Venga aims to filter and evaluate these projects and innovations for users, presenting itself as a trusted marketplace for Web3 and DeFi offerings. The vision is to create a seamless onboarding experience for users entering a complex ecosystem.

Long-Term Vision Amid Market Challenges

Even though Venga launched during a challenging time for the cryptocurrency sector, Stroev remains optimistic. He noted that when Venga went live, the platform was in a rudimentary stage, offering limited features. Now that a robust MVP is available, the company is well-positioned for growth and competition.

“We’re just beginning our upward trajectory,” he said, indicating several new products are in the pipeline for 2025.

When asked about the influence of market downturns, Stroev reflected on past crises, like the collapses of Terra Luna and FTX. “Initially, I thought it was catastrophic. Now, I feel less concerned,” he admitted. He attributes the current market dynamics mainly to changes in U.S. policy, suggesting that forthcoming legislation, such as a stablecoin bill, could lead to significant positive developments.

Ultimately, Stroev views Venga’s journey as a long-term initiative, regardless of the fluctuations in the market.