Intercontinental Exchange (ICE), the global operator known for owning the New York Stock Exchange, is reportedly in talks to invest in the cryptocurrency payments company MoonPay. According to sources, this potential investment is part of a funding round that may set MoonPay’s valuation at approximately $5 billion, a significant rise from its earlier valuation of $3.4 billion during its last funding round in 2021.
MoonPay specializes in providing crypto payment infrastructure, enabling users to buy and sell digital assets seamlessly. In a recent development that highlights its growth and regulatory compliance, MoonPay received a Limited Purpose Trust Charter from the New York Department of Financial Services. This charter permits the company to expand its suite of crypto services, including custody solutions in New York, positioning it favorably within the competitive landscape.
With both the trust charter and an existing BitLicense, MoonPay joins an elite circle of companies such as Coinbase, PayPal, and Ripple, which have successfully navigated New York’s rigorous regulatory environment for cryptocurrency operations.
This news emerged shortly after Caroline Pham, the acting chair of the U.S. Commodity Futures Trading Commission (CFTC), was announced as MoonPay’s new chief legal and administrative officer. Pham’s addition to the team signifies strategic moves within the company to bolster its regulatory and operational framework as it scales.
ICE has been proactive in its expansion into the digital asset market in recent years, underscoring its commitment to the evolving landscape. The firm has also made notable investments, including a recent $2 billion stake in Polymarket, further cementing its influence in the digital finance ecosystem.
