MoonPay Obtains Coveted New York BitLicense, Expanding Crypto Payment Solutions

MoonPay Secures New York's BitLicense, Poised to Expand Crypto Services

Crypto payments company MoonPay has been granted the coveted BitLicense and money transmitter license from the New York Department of Financial Services. This milestone enables MoonPay to directly service customers in New York, marking a significant expansion for the firm.

"The New York BitLicense is a critical milestone for MoonPay, enabling us to directly service New York customers," a MoonPay spokesperson stated. "New York is considered the gold standard in U.S. financial regulation, and we are thrilled to join the small group of companies that have passed this rigorous process."

With these new licenses, MoonPay now holds money transmitting licenses in 47 U.S. jurisdictions and registrations in key markets like the United Kingdom, Australia, and Canada. This expansion strengthens the company's ability to bridge traditional finance with the growing crypto economy.

New York City Mayor Eric Adams, a vocal supporter of crypto, has advocated for removing the BitLicense requirements. However, the license remains a crucial regulatory requirement for businesses operating in New York's virtual currency market.

MoonPay's recent establishment of a New York City headquarters in April highlights its commitment to the region. "New York is the financial capital of the world. Our business has always been about bridging traditional finance and the new crypto economy, and now, with our new HQ in New York and our BitLicense, we can work more closely with the largest financial institutions in the world," the spokesperson added.

As MoonPay continues to grow its services and partnerships, its New York presence and successful BitLicense approval position the company as a leader in connecting traditional finance with the crypto ecosystem.