MoonPay has announced that it has secured New York Trust Charter in order to expand its regulated financial infrastructure.
Following this announcement, the New York State Department of Financial Services (NYDFS) has authorised MoonPay, a New York Limited Purpose Trust Company (LPTC), to begin providing services to customers and clients.
This charter is set to authorise MoonPay to provide secure and efficient digital asset custody and over-the-counter (OTC) trading services under a respected regulatory framework. In addition, this initiative marks an important step in MoonPay’s strategy to deliver safe, compliant, and scalable financial infrastructure for institutional and enterprise partners.
Bridging traditional and digital finance in a secure way
According to the official press release, with this approval, MoonPay will have the possibility to join a group of digital-asset companies that have obtained both the NYS Bitlicense and New York Limited Purpose Trust Charters, including Coinbase, PayPal, Ripple, and NYDIG. At the same time, the launch of MoonPay Trust Company is expected to expand the firm’s regulated footprint for customers and partners across the globe, while also complementing its existing financial licenses across multiple jurisdictions and highlighting its commitment to servicing institutional and enterprise clients. MoonPay Trust Company will have the possibility to provide a potentially GENIUS-compliant path for future stablecoin issuance, while any additional services will need express approval from NYDFS.
Receiving the New York Trust Charter is expected to reflect MoonPay’s commitment to meeting the standards of compliance, security, and governance. In addition, it is set to give the company the possibility to deepen relationships with global financial institutions, while also expanding its regulated service offerings, and continue bridging traditional and digital finance in a trusted way. MoonPay will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
