MoonPay Wins Trust Charter in New York to Boost Regulated Services Push

Expanded Regulatory Authority in New York

MoonPay has obtained a New York Limited Purpose Trust Company license, a significant authorization that allows the company to offer digital asset custody and Over-the-Counter (OTC) trading services under a stringent regulatory framework. This new license complements the company's existing BitLicense, positioning MoonPay alongside other major players like Coinbase, Ripple, PayPal, and NYDIG, who hold similar dual credentials.

The New York Limited Purpose Trust Company license mandates formal audits, enhanced traceability, and robust banking controls. This framework enables MoonPay to establish agreements with traditional banks, innovative fintech companies, and corporate clients seeking regulated digital asset solutions.

Full Fiduciary Infrastructure for Institutions

This new regulatory status empowers MoonPay to provide custody and trading of digital assets within a fiduciary infrastructure. This infrastructure includes comprehensive requirements for auditing, traceability, and banking controls, specifically designed to meet the demands of the institutional market. Funds and corporations operating in this space require a legal framework that defines responsibilities, ensures verifiable processes, and guarantees compliance in every transaction.

CEO Ivan Soto-Wright highlighted that this authorization reinforces MoonPay's standing as a leading provider and supports the expansion of its partnerships with banks, fintech firms, and corporate clients. These entities are looking to engage with cryptocurrencies through fully supervised services. Soto-Wright further noted that the license facilitates a deeper integration between traditional finance and blockchain-based solutions, a strategic objective that MoonPay has been pursuing for several years across the United States, United Kingdom, European Union, Australia, and Canada.

Potential for MoonPay Stablecoin Issuance

MoonPay has opened the possibility for a new business line related to issuing stablecoins, although any such expansion would necessitate obtaining additional approvals. The New York fiduciary framework aligns with a broader industry trend that encourages issuers, processors, and infrastructure providers to adopt operational models similar to those of established banks or trust companies.

MoonPay's core business focuses on simplifying access to the cryptocurrency market. It achieves this through payment gateways that are familiar to traditional users, including credit cards, PayPal, Venmo, and Apple Pay. This approach allows users to buy, sell, and manage digital assets and stablecoins without requiring specialized technical expertise, thereby making crypto services more accessible to businesses and a wider range of new market participants.

The company currently serves a base of 30 million users and has integrated nearly 500 companies into its infrastructure, solidifying its position as a significant provider within the cryptocurrency industry.