MoonPay has received authorization from the New York State Department of Financial Services to operate as a New York Limited Purpose Trust Company, a designation that significantly expands its capabilities in regulated crypto services. With the approval, MoonPay can now offer institutional-grade crypto custody, over-the-counter trading and fiduciary services for banks, asset managers and enterprise clients.
The company now joins an exclusive list of digital-asset firms that hold both a BitLicense and a Trust Charter, including Coinbase, PayPal and Ripple. CEO Ivan Soto-Wright said the milestone reflects MoonPay’s commitment to high standards of compliance, security and governance.
While MoonPay is widely known for its consumer-focused crypto on-ramp tools, the new trust structure positions it for deeper institutional engagement. It also provides a regulatory path for launching a New York-compliant stablecoin, though such a move would require separate approval.
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