Cryptocurrency payment giant MoonPay achieved a major regulatory milestone on November 25, 2025, when the New York Department of Financial Services (NYDFS) granted the company a Limited Purpose Trust Charter.
The trust charter comes five months after MoonPay secured its BitLicense from the same regulator on June 4, 2025. With both licenses now in hand, MoonPay joins an exclusive group of just four other companies – Coinbase, PayPal, Ripple, and NYDIG – that hold dual regulatory approval in New York State.
Breaking Down the Trust Charter Benefits
The Limited Purpose Trust Charter gives MoonPay significant new capabilities that go beyond its traditional payment processing services. The company can now legally offer cryptocurrency custody services, meaning it can safely store digital assets for institutional clients. Additionally, the charter permits over-the-counter trading, which allows large-volume cryptocurrency transactions outside of public exchanges.
“Receiving our New York Trust Charter reflects our commitment to meeting the highest standards of compliance, security, and governance,” said Ivan Soto-Wright, MoonPay’s co-founder and CEO. The approval enables the company to deepen relationships with global financial institutions and expand its regulated service offerings.
Source: @moonpay
Industry experts note that NYDFS rarely grants trust charters without thorough vetting. The regulatory approval signals to traditional financial institutions that MoonPay meets bank-level compliance standards, potentially making it a more attractive partner for established financial companies entering the crypto space.
The Road to Dual Licensing
MoonPay’s regulatory journey began earlier this year when it secured both a BitLicense and Money Transmitter License from NYDFS on June 4, 2025. The BitLicense approval completed the company’s U.S. regulatory coverage, allowing it to serve customers in all 50 states without gaps.
The BitLicense is widely recognized as the gold standard in cryptocurrency regulation. Since its introduction in 2015, MoonPay joins 34 other firms that have received this approval due to its strict requirements. The application process is both expensive and time-consuming, often costing companies over $100,000 in preparation costs beyond the $5,000 application fee.
MoonPay’s success in obtaining both licenses demonstrates its commitment to regulatory compliance at a time when many crypto companies struggle with unclear regulations. The company acquired fintech startup Meso in September 2025 to strengthen its U.S. banking connections and payment infrastructure.
Global Regulatory Expansion
Beyond its New York achievements, MoonPay has built an impressive regulatory footprint worldwide. The company holds licenses and registrations in the United Kingdom, European Union, Canada, Australia, Italy, Ireland, and Jersey. In December 2024, MoonPay became one of the first crypto companies to secure approval under the EU’s Markets in Crypto Assets (MiCA) regulation.
This global approach to compliance positions MoonPay well for international expansion. The company currently serves 30 million customers across 180+ countries and works with nearly 500 client and partner companies. Its comprehensive licensing strategy allows it to operate in major financial markets without regulatory gaps.
The timing of MoonPay’s New York approvals aligns with growing institutional interest in cryptocurrency services. Traditional financial institutions have become more willing to work with crypto companies that demonstrate strong regulatory compliance and operational security.
Future Opportunities and Stablecoin Potential
The trust charter opens new doors for MoonPay’s business expansion. Most notably, the company now has a potential pathway to issue its own stablecoin that complies with New York regulations. However, any stablecoin issuance would still require separate approval from NYDFS.
Stablecoins represent a massive market opportunity, with the total market capitalization exceeding $190 billion. MoonPay already has partnerships with major payment platforms and exchanges, which could help distribute any future stablecoin offerings. The company has announced partnerships with payment providers like Bitstamp and Uphold for various cryptocurrency services.
The trust structure also positions MoonPay to support a broader range of tokenized financial products over time. As the cryptocurrency industry matures, regulated companies with trust charters may have advantages in offering complex financial services to institutional clients.
Business Performance and Market Position
MoonPay has demonstrated strong financial performance throughout 2024 and 2025. The company reported being cash-flow positive and profitable in 2024, with expectations that 2025 will be its strongest year for earnings and cash flow. This financial stability supported its regulatory applications and business expansion efforts.
The company has been active in acquisitions, purchasing four different companies in 2025 to build what it calls the world’s largest global payments network. These acquisitions include Helio for $175 million, stablecoin infrastructure company Iron, and most recently Meso to improve U.S. banking connections.
MoonPay’s transaction volume has grown significantly, with the company processing over $8 billion in cumulative transactions. The platform supports more than 110 cryptocurrencies and 30+ fiat payment methods, making it accessible to both retail and institutional users.
The Regulatory Landscape Advantage
MoonPay’s dual New York licenses arrive at a favorable time for the cryptocurrency industry. The Trump administration has taken a more crypto-friendly approach to regulation, potentially making federal-level compliance easier for companies that already meet state standards.
The NYDFS approval process is considered one of the most thorough in the world, often serving as a model for other regulators. Companies that successfully navigate New York’s requirements typically find it easier to obtain approvals in other jurisdictions.
For MoonPay’s customers, the additional regulatory oversight provides extra protection and confidence. The trust charter requires the company to maintain specific capital reserves and follow strict operational procedures designed to protect customer assets.
A New Era of Compliant Innovation
MoonPay’s achievement in securing both a BitLicense and Limited Purpose Trust Charter represents more than just regulatory approval – it signals the company’s evolution from a simple payment processor to a comprehensive financial infrastructure provider. With the ability to offer custody services, facilitate large-scale trading, and potentially issue stablecoins, MoonPay has positioned itself as a key player in the institutional cryptocurrency market.
The dual licensing milestone demonstrates that cryptocurrency companies can successfully navigate complex regulatory requirements while maintaining growth and profitability. As the industry continues to mature, MoonPay’s comprehensive compliance approach may serve as a blueprint for other companies seeking to build trusted relationships with traditional financial institutions.