MoonPay has achieved a notable regulatory milestone after receiving a Limited Purpose Trust Charter from the New York Department of Financial Services (NYDFS), allowing the company to offer regulated cryptocurrency custody and over-the-counter (OTC) trading in New York.
This approval positions MoonPay among an elite group of firms, including Coinbase, PayPal, Ripple, and NYDIG, that hold dual licences under New York’s stringent regulatory framework.
The Limited Purpose Trust Charter complements MoonPay’s existing BitLicense, which the company secured on 4 June 2025, completing its US regulatory coverage.
With both licences, MoonPay can legally store digital assets for institutional clients and facilitate large-volume OTC cryptocurrency trades outside public exchanges.
CEO Ivan Soto-Wright emphasised the significance of the approval, stating:
“Receiving our New York Trust Charter reflects our commitment to meeting the highest standards of compliance, security, and governance. It enables us to deepen relationships with global financial institutions, expand our regulated service offerings, and continue bridging traditional and digital finance in a trusted way.”
Industry observers note that NYDFS rarely grants trust charters without rigorous vetting.
Analyst Eleanor Terrett highlighted that this move places MoonPay within a “notable group under New York’s strict licensing regime,” signalling to traditional financial institutions that the company meets bank-level compliance standards.
MoonPay’s regulatory expansion has been deliberate.
Earlier this year, the company also obtained a Money Transmitter License from NYDFS.
Globally, MoonPay maintains licences and registrations across the UK, EU, Canada, Australia, Italy, Ireland, and Jersey.
In December 2024, it became one of the first crypto firms to secure approval under the EU’s Markets in Crypto Assets (MiCA) regulation.
This global approach supports the company’s operations in more than 180 countries and with nearly 500 client and partner companies, reinforcing its credibility for both retail and institutional users.
The firm’s acquisition of fintech startup Meso in September 2025 further strengthens its US banking connections and payment infrastructure, reflecting its strategy to integrate traditional finance with digital assets.
Bitcoin currently trades at $87,468.63, with a market capitalisation of $1.74 trillion, marking a 0.64% decline over 24 hours.
Despite holding 57.92% dominance in the crypto market, Bitcoin has lost 24.3% over the past 30 days, according to CoinMarketCap.
Analysts suggest that MoonPay’s dual licensing could foster greater institutional trust, offering a secure pathway for large-scale investment amid market volatility.
The trust charter opens the possibility for MoonPay to issue regulated stablecoins, though separate approval from NYDFS would be required.
With the total stablecoin market exceeding $190 billion, MoonPay’s partnerships with exchanges like Bitstamp and Uphold position it to potentially expand into this space.
The charter also enables the company to support a wider array of tokenised financial products for institutional clients, reflecting its broader ambition to become a comprehensive financial infrastructure provider.
MoonPay has maintained profitability and positive cash flow in 2024, with 2025 expected to be its strongest year yet.
The company processed over $8 billion in cumulative transactions, supporting more than 110 cryptocurrencies and over 30 fiat payment methods.
In 2025, MoonPay acquired four companies, including Helio for $175 million and stablecoin infrastructure firm Iron, reinforcing its position as a global payments network.
By achieving dual licensing in New York, MoonPay demonstrates that crypto companies can meet strict regulatory standards while pursuing growth.
The approval coincides with increasing institutional interest in cryptocurrency services, as financial institutions look to engage with firms that offer regulatory certainty and operational security.
This latest development, combined with MoonPay’s global licensing strategy, positions the company as a leading player in regulated crypto custody, OTC trading, and potentially future stablecoin issuance, bridging traditional finance with the digital asset ecosystem.
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