MoonPay USA LLC, the United States headquarters of MoonPay exchange has secured a BitLicense and Money Transmitter License from the New York State Department of Financial Services (NYDFS). The exchange confirmed the development in a blog post on Tuesday.
With these licenses, MoonPay New York customers can now engage in full stack fiat-to-crypto offerings. These offerings includes buying and selling crypto, and usage of major payment methods. The license also completes its U.S. regulatory coverage, allowing the exchange to service customers in all 50 states.
It is worth noting that the BitLicense is widely recognized as a gold standard in the crypto industry. The license also establishes MoonPay as one of the few crypto payment companies authorized to carry out virtual currency business activity in New York state.
In reaction to this development, the co-founder and CEO of the exchange, Ivan Soto-Wright expressed optimism towards securing the BitLicense and Money Transmitter license. He noted that this achievement allows MoonPay to render its services seamlessly across all states in the region. The exec also added that he looks forward to continuously working with other regulators worldwide to make crypto accessible to everyone.
The New York licenses are also complemented by money transmission licenses in 46 other U.S jurisdictions and registrations in the UK, Australia and Canada, Italy, Ireland and Jersey. Meanwhile, recall that the exchange’s recently launched its new headquarters in New York City, marking the establishment of its largest U.S office to date.
Similarly, MoonPay was also among the first exchanges to secure a crypto asset service provider license under the European Union Markets in Crypto Assets (MiCA) regulation.
MoonPay partners with Mastercard to develop stablecoin-powered cards
Just last month, the exchange partnered with Mastercard to develop stablecoin-powered cards, thus enabling users and businesses to make and receive payments in stablecoins worldwide. The partnership also saw to the issuance of Mastercard-branded cards. As revealed, the partnership utilized the technology from Iron, a stablecoin infrastructure platform recently acquired by MoonPay in March.
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