Crypto Payments Firm MoonPay Set For $5 Billion Valuation With NYSE Owner’s Backing
Crypto fee platform MoonPay is poised to obtain a big fundraising enhance as current studies recommend that Intercontinental Exchange (ICE), the proprietor of the New York Stock Exchange (NYSE), is exploring an funding within the firm.
According to a Bloomberg report, which cited sources accustomed to the discussions, MoonPay is near finalizing this fundraising spherical and is concentrating on a valuation round $5 billion.
New Regulatory Approval And Investment Talks
Based in New York, MoonPay focuses on simplifying the buying and selling of cryptocurrencies by way of numerous fee strategies, together with PayPal, Apple Pay, and Venmo. The platform additionally affords instruments for customers to ship, obtain, and handle stablecoins.
Notably, MoonPay just lately obtained a Limited Purpose Trust Charter from the New York Department of Financial Services (NYDFS), a big regulatory approval that enhances its current BitLicense.
This constitution allows MoonPay to increase its custody and different crypto services inside New York, inserting the corporate in league with established gamers like Coinbase (COIN) and PayPal, which additionally function below the state’s strict digital asset laws.
The momentum for MoonPay continues to construct, notably with information that Caroline Pham, the appearing chair of the Commodity Futures Trading Commission (CFTC), plans to hitch the agency as its chief authorized and administrative officer.
CFTC Chair Caroline Pham to Join MoonPay
Pham has been a notable determine within the regulatory landscape, having served on the CFTC’s board since April 2022 and turning into appearing chair in January 2025.
She introduced her intention to return to the non-public sector as soon as a everlasting chair was confirmed, which is predicted to occur this week with Mike Selig’s anticipated affirmation.
Under Pham’s management, the CFTC expedited a number of initiatives centered on cryptocurrencies, together with the allowance for spot crypto buying and selling on futures exchanges and the launch of a digital property pilot program permitting the usage of property like Bitcoin (BTC) and Ethereum (ETH) in derivatives markets.
Additionally, Pham applied numerous operational adjustments throughout the CFTC, reportedly main to just about $50 million in annual financial savings by enhancing governance and accountability.
Pham articulated that her agenda as appearing chair focused on executing a variety of presidential government orders aimed toward selling regulatory readability and effectivity throughout authorities companies.
Reflecting on her choice to hitch MoonPay, she emphasized the significance of individuals in her profession decisions, stating that significant connections information her choices.
Her connection to MoonPay started by way of a dinner hosted by Christie’s Art + Tech in 2023, the place she met MoonPay’s president, Keith Grossman. A dialog that began on the dinner advanced right into a friendship and later skilled discussions as Pham thought-about her choices post-government.
Grossman expressed confidence in Pham’s capabilities, stating, “MoonPay has actually matured, and Caroline is the precise kind of chief with the precise kind of huge financial institution and regulatory expertise that’s wanted for us to have the ability to transfer to the following degree.”
Featured picture from DALL-E, chart from TradingView.com
