Intercontinental Exchange Inc. (ICE), the operator behind the New York Stock Exchange, is reportedly engaged in discussions to invest in the crypto payments company MoonPay, according to sources familiar with the situation. This potential investment could see MoonPay’s valuation soar to approximately $5 billion, a significant increase from its previous valuation of $3.4 billion.
MoonPay, headquartered in New York, has established itself as a crucial player in the cryptocurrency market by providing the necessary infrastructure for users to buy and sell digital assets. The company has recently bolstered its regulatory standing by obtaining a Limited Purpose Trust Charter from the New York Department of Financial Services. This new charter compliments its existing BitLicense, enabling MoonPay to broaden its custody and other crypto services within the state.
Such regulatory approvals position MoonPay alongside industry giants like Coinbase and PayPal, who are permitted to operate under New York’s stringent digital asset regulations. The prospective investment from ICE aligns with its ongoing strategy to deepen its involvement in the digital asset landscape. In addition to its activities with MoonPay, ICE operates Bakkt, a notable crypto platform, and has also announced a commitment of $2 billion to Polymarket, a prediction market platform. Analysts regard these initiatives as part of a broader strategy for ICE to engage with emerging financial technologies.
In the midst of these developments, MoonPay is experiencing leadership changes, including the announcement that Caroline Pham, the acting chair of the Commodity Futures Trading Commission (CFTC), will be joining the company as its chief legal officer and chief administrative officer. Pham has been instrumental in advancing the CFTC’s initiatives concerning cryptocurrency over the past year, contributing to efforts aimed at clarifying regulatory frameworks related to digital assets. Notably, she helped facilitate the withdrawal of outdated guidance on the “actual delivery” of digital assets.
Her decision to join MoonPay highlights the company’s commitment to compliance and regulatory excellence. CEO Ivan Soto-Wright expressed confidence in Pham’s leadership at the CFTC, emphasizing that her expertise will assist in translating regulatory advancements into practical benefits for the company’s users and partners.
Further strengthening its service offerings, earlier this year, Rumble entered into an exclusive partnership with MoonPay to launch Rumble Wallet. This initiative will enable content creators to manage their earnings outside conventional banking systems, allowing users to buy, sell, and swap Bitcoin and other digital assets directly on the platform by leveraging MoonPay’s infrastructure.
