New updates have been reported about MoonPay (PC:MOOPX)
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MoonPay has achieved a significant regulatory milestone by obtaining authorization from the New York State Department of Financial Services (NYDFS) to operate as a New York Limited Purpose Trust Company. This approval allows MoonPay Trust Company, LLC to offer digital asset custody and over-the-counter trading services under a highly respected regulatory framework. This development underscores MoonPay’s commitment to providing secure and compliant financial infrastructure for institutional and enterprise clients. Ivan Soto-Wright, MoonPay’s co-founder and CEO, emphasized that this charter reflects the company’s dedication to compliance, security, and governance, enabling deeper collaborations with global financial institutions and expanding its regulated service offerings.
By joining the ranks of digital asset companies with both the NYS Bitlicense and New York Limited Purpose Trust Charters, MoonPay aligns itself with industry leaders such as Coinbase and PayPal. The establishment of MoonPay Trust Company marks an expansion of the company’s regulated global presence, reinforcing its commitment to serving institutional and enterprise customers. Additionally, this move positions MoonPay to potentially issue stablecoins in compliance with regulatory standards, pending further NYDFS approvals. With over 30 million customers and partnerships with nearly 500 companies, MoonPay continues to drive mainstream crypto adoption, offering a trusted infrastructure for navigating the blockchain-based financial ecosystem. This regulatory approval further solidifies MoonPay’s role in bridging traditional and digital finance.