MoonPay is making significant strides in the U.S. financial infrastructure by introducing its Virtual Accounts in New York, a state recognized for its stringent regulatory environment for digital assets. This rollout enables MoonPay to join a select group of providers that can offer compliant fiat-to-stablecoin services within New York, an essential step for fintechs, crypto platforms, and financial institutions seeking streamlined access to stablecoin infrastructure.
Historically, accessing stablecoin solutions has been a challenge in New York due to the rigorous oversight from the New York State Department of Financial Services (NYDFS). However, MoonPay’s new offering aims to change that by providing a single API integration that allows platforms to seamlessly connect within a compliant framework designed specifically for the state.
Virtual Accounts operate as a bridge between traditional financial systems and blockchain, providing a user-friendly mechanism for managing funds. They enable platforms to create designated accounts for users that accept fiat currency through established payment methods such as ACH, wire transfers, and SWIFT. Upon receipt, these funds are instantly converted into stablecoins and deposited into non-custodial wallets. This creates an efficient flow that links conventional payment systems with on-chain infrastructure, resulting in advantages such as faster settlement times, decreased reliance on banking intermediaries, and programmable, globally interoperable payments.
Max von Wallenberg, CEO of Iron, emphasized that this launch is pivotal for integrating stablecoins into mainstream finance, highlighting that access to New York broadens the scope of where and how these systems can be implemented.
The strategic acquisition of Iron by MoonPay in 2025 was focused on enhancing their capabilities beyond mere feature additions, fostering a robust full-stack infrastructure. Iron’s platform consolidates onboarding, liquidity, banking orchestration, and payment operations into a singular solution, granting companies the ability to expand stablecoin-based offerings without the need to coordinate multiple service providers.
The demand for these capabilities is already evident. MoonPay has successfully integrated Iron’s infrastructure into Deel, allowing over 40,000 businesses in the UK and EU to pay their workers using stablecoins. Furthermore, a collaboration with Paysafe aligns stablecoin functionalities within a vast network that processes nearly $170 billion annually.
Building upon its regulatory standing, MoonPay’s expansion is further bolstered by the approvals it received from the NYDFS in 2025, a necessary step for operating at scale within the state.
Stablecoins are increasingly being adopted for various financial functions, including payroll, treasury, and cross-border payments. However, their scalability is contingent upon compliant fiat rails in key financial centers. New York, previously a missing link, is now essential to MoonPay’s mission of providing a comprehensive solution that seamlessly integrates traditional finance with blockchain technology, solidifying its position in one of the world’s most critical financial markets.
