MoonPay Receives New York Trust Charter for Enhanced Financial Services Infrastructure
In a groundbreaking advancement for digital finance, MoonPay, a leader in crypto payments, has officially announced that it has received authorization from the New York State Department of Financial Services (NYDFS) to operate as MoonPay Trust Company, LLC. This designation is not just a routine regulatory approval; it symbolizes a pivotal moment in MoonPay's journey to expand its portfolio of regulated financial services.
The NYDFS's recognition of MoonPay aligns with a major goal set by the company—to provide institutional and enterprise partners with a secure, compliant, and scalable infrastructure. This new charter allows MoonPay to engage in digital asset custody and over-the-counter (OTC) trading. What makes this particularly significant is the regulatory environment in which it operates—New York State is known for having one of the most stringent financial oversight frameworks in the world.
Ivan Soto-Wright, MoonPay's co-founder and CEO, expressed the company's commitment to upholding the highest compliance standards. "Receiving our New York Trust Charter reflects our commitment to meeting the highest standards of compliance, security, and governance," he stated. This marks a significant milestone as it enables MoonPay to build deeper partnerships with global financial institutions while expanding its regulated service offerings.
MoonPay is joining an elite group of digital asset companies, including names like Coinbase and PayPal, which have successfully acquired similar licenses. This not only enhances MoonPay’s credibility but also positions it strategically within the competitive landscape of digital finance. The charter provides a framework that could potentially allow for GENIUS-compliant paths for future stablecoin issuance, contingent upon further approval from the NYDFS.
In addition to the new charter, MoonPay already boasts a multitude of financial licenses across different jurisdictions around the globe. This expanded regulated footprint is a clear indication of the company's dedication to serving institutional and enterprise customers, further bridging the gap between traditional and digital finance.
MoonPay aims to make cryptocurrency transactions more accessible by allowing users to buy, sell, and trade digital assets through familiar payment methods, including credit and debit cards, Apple Pay, and PayPal.
Having built a strong customer base of over 30 million users and powering operations for nearly 500 companies in the decentralized economy, MoonPay is rapidly emerging as a key player in driving mainstream crypto adoption. Fully licensed in the United States and regulated in major markets like the UK, EU, Canada, and Australia, the company prides itself on providing enterprise-grade security measures, assuring its customers of a safe financial ecosystem.
This charter is expected to solidify MoonPay's future ventures and capabilities in delivering innovative financial services while maintaining an unyielding commitment to compliance. As the digital finance landscape evolves, MoonPay's latest achievement highlights its proactive approach to addressing the security and regulatory needs of an ever-growing market.
The impact of MoonPay's NY trust charter extends beyond the company itself; it underscores a broader trend of legitimacy within the cryptocurrency industry, paving the way for larger institutional investments and partnerships. As MoonPay continues to lead in facilitating access to digital currencies, the financial world is likely to watch closely how these developments unfold and shape the landscape of regulated cryptocurrency finance.
The NYDFS's recognition of MoonPay aligns with a major goal set by the company—to provide institutional and enterprise partners with a secure, compliant, and scalable infrastructure. This new charter allows MoonPay to engage in digital asset custody and over-the-counter (OTC) trading. What makes this particularly significant is the regulatory environment in which it operates—New York State is known for having one of the most stringent financial oversight frameworks in the world.
Ivan Soto-Wright, MoonPay's co-founder and CEO, expressed the company's commitment to upholding the highest compliance standards. "Receiving our New York Trust Charter reflects our commitment to meeting the highest standards of compliance, security, and governance," he stated. This marks a significant milestone as it enables MoonPay to build deeper partnerships with global financial institutions while expanding its regulated service offerings.
MoonPay is joining an elite group of digital asset companies, including names like Coinbase and PayPal, which have successfully acquired similar licenses. This not only enhances MoonPay’s credibility but also positions it strategically within the competitive landscape of digital finance. The charter provides a framework that could potentially allow for GENIUS-compliant paths for future stablecoin issuance, contingent upon further approval from the NYDFS.
In addition to the new charter, MoonPay already boasts a multitude of financial licenses across different jurisdictions around the globe. This expanded regulated footprint is a clear indication of the company's dedication to serving institutional and enterprise customers, further bridging the gap between traditional and digital finance.
MoonPay aims to make cryptocurrency transactions more accessible by allowing users to buy, sell, and trade digital assets through familiar payment methods, including credit and debit cards, Apple Pay, and PayPal.
Having built a strong customer base of over 30 million users and powering operations for nearly 500 companies in the decentralized economy, MoonPay is rapidly emerging as a key player in driving mainstream crypto adoption. Fully licensed in the United States and regulated in major markets like the UK, EU, Canada, and Australia, the company prides itself on providing enterprise-grade security measures, assuring its customers of a safe financial ecosystem.
This charter is expected to solidify MoonPay's future ventures and capabilities in delivering innovative financial services while maintaining an unyielding commitment to compliance. As the digital finance landscape evolves, MoonPay's latest achievement highlights its proactive approach to addressing the security and regulatory needs of an ever-growing market.
The impact of MoonPay's NY trust charter extends beyond the company itself; it underscores a broader trend of legitimacy within the cryptocurrency industry, paving the way for larger institutional investments and partnerships. As MoonPay continues to lead in facilitating access to digital currencies, the financial world is likely to watch closely how these developments unfold and shape the landscape of regulated cryptocurrency finance.
Topics Financial Services & Investing）
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