MoonPay, a global leader in crypto payment solutions, has officially been granted a Money Transmitter License from the Texas Department of Banking. This regulatory milestone enables MoonPay to offer its full suite of money transmission services to millions of Texas residents.
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Starting today, Texans can use MoonPay to purchase 64 different cryptocurrencies, including popular assets like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). What’s more, users can now pay using Venmo and PayPal, thanks to MoonPay’s recent integration of these payment methods earlier this year.
Driving Crypto Adoption in the Lone Star State
Texas, the second-most populous state in the U.S. and a key hub for Bitcoin mining, represents a massive growth opportunity for MoonPay. Recent reports suggest that over 20% of voting-age Texans currently own some form of cryptocurrency. By offering a simple and accessible way to purchase crypto, MoonPay aims to support the state’s growing interest in digital assets.
“MoonPay is committed to prioritizing compliance and consumer protection as we expand crypto accessibility in Texas and beyond. We look forward to continuing our close work with regulatory bodies to bring our crypto solutions to more users around the world.”
Ivan Soto-Wright, Co-founder & CEO of Moonpay
This new regulatory approval marks the beginning of a larger expansion strategy in Texas. While buying crypto is now live, MoonPay has announced plans to introduce selling capabilities for key cryptocurrencies like BTC, ETH, and SOL starting in 2025. This will further enhance the user experience and provide Texans with a more comprehensive platform for managing their crypto portfolios.
Scaling Compliance Across the U.S.
With the addition of Texas, MoonPay’s regulatory footprint now includes 45 Money Transmitter Licenses across the United States. This proactive approach to compliance underscores MoonPay’s commitment to operating within legal frameworks, ensuring consumer protection and trust as it scales its services nationwide.
The expansion into Texas strengthens MoonPay’s position as a leader in crypto payments, providing millions of users with simple, compliant, and secure access to digital currencies. By streamlining payment methods with PayPal and Venmo, MoonPay is making it easier than ever for people to enter the world of crypto.
As Texas’s crypto community continues to grow, MoonPay’s services are set to play a key role in shaping the state’s digital finance future.
