MoonPay, recognized as a leader in the crypto payments space, has achieved a significant regulatory milestone by securing a charter from the New York State Department of Financial Services (NYDFS). This authorization enables MoonPay Trust Company, LLC, a New York Limited Purpose Trust Company (LPTC), to deliver digital asset custody and over-the-counter (OTC) trading services, positioning the company within one of the most esteemed regulatory frameworks available.
This new approval is a pivotal move in MoonPay’s ongoing mission to establish a 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 charter, stating that it reflects the company’s dedication to stringent standards of compliance, security, and governance. He further remarked that this recognition will facilitate deeper collaborations with global financial institutions and broaden MoonPay’s regulated service offerings, effectively bridging the gap between traditional finance and the burgeoning digital finance sector.
With this charter, MoonPay joins an exclusive network of digital asset companies that have successfully obtained both the New York State Bitlicense and New York Limited Purpose Trust Charters. Other well-known entities in this group include Coinbase, PayPal, Ripple, and NYDIG. The establishment of MoonPay Trust Company not only enhances the company’s regulated footprint but also bolsters its existing financial licenses across various jurisdictions. This expansion accentuates MoonPay’s commitment to serving institutional and enterprise clients effectively.
Additionally, the creation of MoonPay Trust Company opens the door for potential GEBNIUS compliant paths for future stablecoin issuance, although any new services in this domain will require explicit consent from the NYDFS.
MoonPay simplifies the process of buying, selling, and trading cryptocurrencies using standard payment methods such as credit cards, Apple Pay, PayPal, and Venmo. It also offers tools to seamlessly send, receive, and manage stablecoins. With a user base of 30 million customers and partnerships with around 500 companies in the decentralized economy, MoonPay is a prominent player driving mainstream adoption of cryptocurrencies.
The company is fully licensed within the United States and is regulated across the UK, EU, Canada, and Australia, holding certifications for enterprise-grade security. MoonPay continues to innovate and redefine the landscape of payments, making significant strides in the crypto payment ecosystem.
