From a $3.4B past to a $5B cast, is MoonPay growing fast? Up 47% in valuation play is MoonPay, leading crypto’s next day?
According to a recent Bloomberg article, Intercontinental Exchange (ICE), the owner of the New York Stock Exchange (NYSE), is in discussions to invest in the cryptocurrency payments company MoonPay strategically.
This action demonstrates ICE’s increasing interest in blockchain-based financial services and digital assets. If successful, the investment would increase MoonPay’s standing as one of the most valuable cryptocurrency infrastructure firms in the world.
MoonPay provides ICE with more exposure to the quickly changing cryptocurrency payments and custody sector.
The discussions take place soon after MoonPay was given permission to function as a regulated digital asset custodian by the New York Department of Financial Services (NYDFS).
MoonPay is now able to provide custody services, hold client funds, and facilitate institutional-level cryptocurrency transactions in New York thanks to both a BitLicense and a Limited Purpose Trust Charter.
This puts the business in the same league as well-known regulated companies like PayPal and Coinbase.
ICE’s digital asset strategy has been gradually growing. The exchange operator has made notable investments in blockchain-related businesses and controls the cryptocurrency platform Bakkt.
In order to facilitate decentralised finance applications, ICE recently teamed up with Chainlink to put foreign currency and precious metal price data onchain.
Additionally, MoonPay helps strengthen its regulatory leadership. Caroline Pham, the interim chair of the U.S. Commodity Futures Trading Commission (CFTC), will join as chief legal officer following her resignation from the organisation, the firm stated.
Her hiring shows MoonPay’s commitment to regulatory engagement and compliance as it expands internationally.
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