Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), is reportedly looking to bolster its foothold in the digital asset sector through a significant investment in crypto payments firm MoonPay. The latter is currently aiming for a valuation of $5 billion in its latest funding round.
MoonPay has established itself as a facilitator of fiat-to-crypto transactions, making it easier for users to transition between traditional currencies and digital assets. This year, the firm has been particularly active, acquiring a number of startups and launching its own stablecoin business.
The potential investment from ICE underscores a marked rise in institutional interest in digital assets. So far in 2025, venture funding for cryptocurrency projects has approached an impressive $19 billion, signaling a strong commitment from major players in traditional finance.
In a move that enhances its credibility, MoonPay has appointed Caroline Pham, the former acting chair of the Commodity Futures Trading Commission (CFTC), as its chief legal officer. Her addition is expected to further strengthen MoonPay’s governance and regulatory standing as it navigates the evolving landscape of digital finance.
This development comes against a backdrop of increasing engagement from Wall Street in the realm of digital currencies, which has been partly fueled by a more favorable political atmosphere. Companies like MoonPay are at the forefront of this shift, highlighting the seriousness with which financial institutions are beginning to invest in the future of digital money.
In addition to its funding efforts, MoonPay is collaborating with Exodus, a crypto wallet and exchange platform, to launch a U.S. dollar-backed stablecoin. This new initiative aims to allow for everyday payments and enhance self-custody capabilities within the Exodus Pay app. Unlike many traditional stablecoins designed primarily for trading purposes, this new token will be fully backed by dollar deposits, providing a more stable and secure option for users.
The integration of this stablecoin into the wallet means that users will be able to hold, send, and spend their balances directly without needing to rely on external exchanges. MoonPay will oversee the issuance and management of reserves, while the underlying infrastructure will be provided by M0. The stablecoin is anticipated to debut in early 2026, pending regulatory approval, with more details regarding supported blockchains and its name to be released as the launch date approaches.
Overall, the developments surrounding MoonPay and its potential investment from ICE highlight the dynamic and rapidly evolving nature of the digital asset landscape.
