MoonPay, a leading player in the cryptocurrency payments space, has received authorization from the New York State Department of Financial Services (NYDFS) to launch its MoonPay Trust Company, LLC. As a New York Limited Purpose Trust Company (LPTC), the newly chartered entity will offer digital asset custody and over-the-counter (OTC) trading services, benefiting from one of the most esteemed regulatory frameworks in the sector.
This development is seen as a significant advancement in MoonPay’s ongoing mission to establish secure, compliant, and scalable financial infrastructure tailored for institutional and enterprise partners. Ivan Soto-Wright, co-founder and CEO of MoonPay, emphasized the importance of this milestone, stating that the New York Trust Charter underscores the company’s dedication to maintaining the highest standards of compliance, security, and governance.
Soto-Wright noted that this charter would enable MoonPay to strengthen its relationships with global financial institutions, broaden its regulated service offerings, and effectively bridge the gap between traditional finance and the burgeoning digital finance landscape.
With its recent approval, MoonPay becomes part of an exclusive group of digital asset firms that have simultaneously obtained both the NYS Bitlicense and the New York Limited Purpose Trust Charters. This prestigious list includes notable names like Coinbase, PayPal, Ripple, and NYDIG, affirming MoonPay’s position within the industry.
The inauguration of MoonPay Trust Company not only signifies an expansion of the company’s regulatory presence but also aligns with its existing financial licenses across various jurisdictions. This move reflects MoonPay’s commitment to serving institutional and enterprise customers effectively. Additionally, MoonPay Trust Company is positioned to facilitate future stablecoin issuance through a potentially GENIUS compliant pathway, although any new services will still require explicit approval from the NYDFS.
