Crypto-focused financial technology company MoonPay has been approved to operate as a New York Limited Purpose Trust Company, giving it a green light to offer crypto custody and over-the-counter (OTC) trading services to institutions under the oversight of one of the most closely watched financial regulators in the U.S.
The company, known for providing crypto on-ramps and payments infrastructure, is now part of a short list of digital asset firms — including Coinbase, PayPal and Ripple — that hold both a BitLicense and a Trust Charter from the New York State Department of Financial Services (NYDFS). The dual licenses allow MoonPay to expand its reach into regulated services for institutional and enterprise clients.
The charter gives MoonPay the legal framework to act as a fiduciary, meaning it can safeguard digital assets on behalf of clients, a key requirement for firms like banks or asset managers considering crypto exposure.
“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 CEO, in a statement. “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.”
While MoonPay is best known for enabling crypto purchases through credit card and other fiat payment methods, the launch of MoonPay Trust Company broadens its ambitions. In theory, it now has a clearer route to issue a stablecoin that complies with New York rules, though any such move would require separate NYDFS approval.
A regulated trust charter also signals credibility to traditional financial institutions, which remain cautious about working with crypto firms due to ongoing regulatory uncertainty in the U.S.
MoonPay’s new status could make it a more attractive partner for banks, fintechs and global payment networks looking to enter the crypto space without running afoul of regulators.
