MoonPay has introduced a new service called MoonPay Deposits, designed to facilitate the funding of applications using cryptocurrency from existing wallets. This innovative product aims to enhance user experience by allowing deposits from any supported wallet and blockchain, regardless of the cryptocurrency involved in the transaction.
Currently, MoonPay Deposits is operational within the self-custodial TON Wallet, part of Telegram’s dual-wallet system. This integration comes at a time when accurate fund transfers are crucial for users who often face challenges when needing to confirm asset types and networks before executing transactions. Errors during this process can lead to failed transactions and misdirected funds, creating significant frustration for users.
With MoonPay Deposits, the company aims to streamline this convoluted process. The service manages compatibility, routing, and delivery all within a single transaction flow, ensuring that funds arrive at their intended wallets without unnecessary complications. “Users shouldn’t have to buy new assets or navigate complex steps just to fund an account,” commented Ivan Soto-Wright, CEO and co-founder of MoonPay. He emphasized that the new service allows users to utilize their existing crypto without grappling with intricate technicalities, thereby simplifying asset movement across the digital landscape.
To utilize MoonPay Deposits, users first select the token they wish to send and the network they are transferring from. MoonPay then seamlessly executes the required swaps, bridging, and cross-chain routing in the background, making the overall process more efficient. This integration with the TON Wallet means that over 100 million users can now fund their wallets on Telegram using cryptocurrency stored in various networks. Users can deposit major tokens such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), multiple stablecoins, and other digital assets. Notably, stablecoins are converted at a 1:1 rate before being deposited as TON or another supported asset in the Telegram Wallet.
Founded in 2019, MoonPay operates as a financial technology firm focused on facilitating payments in both fiat and digital currencies. The company has amassed over 30 million customers across 180 countries and serves more than 500 enterprise clients spanning the crypto and fintech sectors. In a step toward expanding its offerings, MoonPay launched its enterprise stablecoin business in November 2025, further establishing its position as a key player in the digital asset space.
