Crypto payment platform MoonPay announced it secured
both a BitLicense and a money transmitter license from the New York State
Department of Financial Services (NYDFS), enabling it to operate in all 50
states.
Regulatory Milestone for Nationwide Access
The approval positions MoonPay among crypto payments
firms authorized to conduct virtual currency activities in New York, a state
known for its strict financial oversight.
This comes at a time when digital asset firms are
racing to align with changing regulatory landscapes, particularly under Donald Trump’s administration’s pro-crypto stance, which has been actively
working on broader federal guidelines.
“With the approval of our New York BitLicense and Money
Transmitter Licenses, MoonPay now holds the golden regulatory stack for crypto
in the U.S., allowing us to directly serve customers in every single state
without gaps in coverage,” commented co-founder and CEO Ivan Soto-Wright.
“As a U.S.-founded company with a headquarters in New York
City, we’re immensely proud of this milestone and look forward to our continued
work with regulators nationwide to make crypto accessible to everyone.”
Read more: DB Investing Appoints ProperFX’s Former CEO Ioan Mihalachi as Chief Business Officer
The regulatory win closely follows the opening of
MoonPay’s new headquarters in New York City, now its largest U.S. office. The
move reflects the company’s strategic investment in its domestic presence,
aligning with its regulatory ambitions.
NYC Headquarters and Global Footprint
MoonPay has been on an expansion spree beyond U.S.
borders as well. It holds registrations in the UK, Australia, Canada, Italy,
Ireland, and Jersey, and was among the first firms to secure a crypto asset
service provider license under the EU’s MiCA regulation last December.
The New York approval caps what MoonPay described as a
record-breaking year in 2024, during which it became cash-flow positive and
profitable. That financial turnaround bolsters its positioning as a maturing
firm in a sector that continues to face scrutiny over sustainability and
compliance.
Recently, Mastercard and MoonPay collaborated to support stablecoin payments across Mastercard’s network. According to the announcement,
the companies plan to let businesses and consumers pay or receive payments using
stablecoins.
🚨 BREAKING NEWS 🚨MoonPay and @Mastercard have joined forces to enable stablecoin payments and spending at 150 million global businesses!with this partnership, every crypto wallet will also have access to new stablecoin-powered virtual Mastercards pic.twitter.com/nklJySCntP
— MoonPay 🟣 (@moonpay) May 15, 2025
The partnership involves Mastercard-branded cards that
reportedly connect to users’ stablecoin wallets. At the point of sale, the
stablecoins will be automatically converted to local currency, and payments are
reportedly acceptable in over 150 million locations that support Mastercard
worldwide.
This article was written by Jared Kirui at www.financemagnates.com.
Source link
GIPHY App Key not set. Please check settings