Crypto payment platform MoonPay is on the verge of a substantial fundraising boost, as reports indicate that Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), is considering an investment in the firm. Bloomberg, citing sources familiar with the negotiations, reveals that MoonPay is nearing completion of this fundraising round, aiming for a valuation of approximately $5 billion.
Headquartered in New York, MoonPay specializes in facilitating cryptocurrency trading through an array of payment options including PayPal, Apple Pay, and Venmo. The platform also provides tools for users to send, receive, and manage stablecoins. Recently, MoonPay achieved a noteworthy milestone, securing a Limited Purpose Trust Charter from the New York Department of Financial Services (NYDFS). This regulatory approval enhances its existing BitLicense, allowing it to broaden its scope of custody and other crypto services within the state. With this charter, MoonPay joins the ranks of established players like Coinbase and PayPal, who also operate under New York’s rigorous digital asset regulations.
The positive momentum surrounding MoonPay is further intensified by the news that Caroline Pham, the acting chair of the Commodity Futures Trading Commission (CFTC), is set to join the company as its chief legal and administrative officer. Pham has been a prominent figure in the regulatory domain, serving on the CFTC’s board since April 2022 and ascending to the position of acting chair in January 2025. She announced her intent to return to the private sector coinciding with the confirmation of a permanent chair, expected to be Mike Selig soon.
During her tenure, Pham accelerated several initiatives concerning cryptocurrencies, including permitting spot crypto trading on futures exchanges and launching a pilot program for digital assets that allows the use of Bitcoin and Ethereum in derivatives markets. Moreover, her leadership led to significant operational changes within the CFTC that resulted in an estimated annual savings of nearly $50 million by improving governance and accountability.
Pham’s focus during her time as acting chair emphasized the execution of presidential executive orders aimed at fostering regulatory clarity and efficiency across government agencies. In reflecting on her transition to MoonPay, she highlighted the significance of personal relationships in her career decisions, stating that meaningful connections inform her choices.
Her introduction to MoonPay occurred during a dinner hosted by Christie’s Art + Tech in 2023, where she met Keith Grossman, MoonPay’s president. A conversation that started that night developed into a professional relationship as Pham considered her future after leaving government. Grossman expressed his confidence in Pham’s capabilities, asserting that “MoonPay has really matured, and Caroline is the exact type of leader with the exact type of big bank and regulatory experience that’s needed for us to be able to move to the next level.”
