MoonPay Secures BitLicense for Nationwide U.S. Crypto Operations – Coincu

MoonPay has secured the New York BitLicense, allowing it to operate in all 50 U.S. states. This regulatory approval comes after a rigorous process involving multiple crypto firms.

The licensing positions MoonPay as a major player in the U.S. crypto landscape, providing a regulatory edge in expanding services nationwide. Key developments include MoonPay’s acquisition of the New York BitLicense and Money Transmitter License, enabling it to provide direct services to users across 50 states. Ivan Soto-Wright, CEO, expressed pride in achieving this regulatory milestone.

MoonPay’s BitLicense: A Key Regulatory Milestone

The BitLicense’s acquisition enhances MoonPay’s credibility, distinguishing it as a compliant crypto provider capable of offering comprehensive services. This allows transactions and services for major cryptocurrencies like Bitcoin and Ethereum, enhancing MoonPay’s market reach.

Industry experts view the BitLicense as a gold standard, a sentiment echoed by James Murphy, a renowned crypto attorney. Receiving this license underlines MoonPay’s status as a credible entity in the crypto sector, bolstering further market access and institutional trust.

“With the approval of our New York BitLicense and Money Transmitter Licenses, MoonPay now holds the golden regulatory stack for crypto in the U.S., allowing us to directly serve customers in every single state without gaps in coverage. As a U.S.-founded company with a headquarters in New York City, we’re immensely proud of this milestone and look forward to our continued work with regulators nationwide to make crypto accessible to everyone.” – Ivan Soto-Wright, Co-founder and CEO, MoonPay

Bitcoin Market Data and MoonPay’s Future Opportunities

Did you know? Only 34 companies have been granted BitLicenses since 2015, highlighting its rarity and prestige in the crypto regulatory landscape.

Bitcoin (BTC) currently trades at $104,653.78, with a market cap of $2.08 trillion and a market dominance of 63.24%, according to CoinMarketCap. It has seen a 24-hour price decrease of 0.78%, while maintaining significant gains of 25.89% over the past 60 days.

Coincu reports suggest MoonPay’s enhanced regulatory position might facilitate new financial partnerships and technological advancements within the sector. The BitLicense not only boosts its compliance portfolio but also positions it strategically for future growth and competitiveness in the crypto industry.