- MoonPay now holds crypto licenses across all 50 U.S. states
- NYDFS grants BitLicense to MoonPay after rigorous compliance checks
- MoonPay opens NYC HQ after record-breaking 2024 performance
MoonPay has secured a BitLicense and money transmitter license from the New York State Department of Financial Services (NYDFS). The company can now operate in all U.S. states, which strengthens its national regulation. The announcement comes after MoonPay opened a major U.S. headquarters in New York City.
The company now holds money transmission licenses in 46 states and major international jurisdictions such as the UK, Australia, and Canada. MoonPay can offer services directly to users in New York without the need for third parties. This step is an important part of MoonPay’s plan to expand across the U.S. crypto payments market.
MoonPay Joins Crypto Firms With Bitlicense Approval
MoonPay joins 34 other firms that acquired BitLicense from the New York Department of Financial Services since 2015. The other firms include Coinbase, Circle, Robinhood, and Ripple. Industry observers consider the BitLicense as one of the most rigorous U.S. crypto compliance standards.
MoonPay’s license comes amid broader clarity in crypto regulations under the current pro-crypto federal administration. New regulations from Washington have made U.S. licenses more attractive to digital asset service providers. The BitLicense, often seen as a top standard, enhances MoonPay’s position with institutional partners and regulators.
The NYDFS issued the license to MoonPay after reviewing its compliance, risk management, and consumer protection policies. The company strengthened its internal controls and audit systems during the application. This shows that MoonPay has met the strict requirements to offer digital asset services in New York.
MoonPay License Comes After Major 2024 Growth
The move comes after MoonPay had its best financial year, with record revenue growth in 2024. The company purchased Iron and Helios to improve its fiat-to-crypto infrastructure. These acquisitions aim to increase MoonPay’s ability to handle on-ramp and off-ramp transactions in regulated markets.
MoonPay insisted on its dedication to collaborating with regulators as it grows in the U.S. market. The new licenses allow it to conduct business in New York without the need for a third party. This enables the firm to provide a smooth crypto experience to American users.
NYDFS Strict Licensing Process
The NYDFS only approved two licenses in the past year. Legal experts point out that the process is very demanding which often discourages applications. However, regulatory experts view BitLicense as a critical trust marker for long-term crypto firms.
MoonPay’s decision to open a headquarters in Manhattan’s SoHo district supports its U.S. operational ambitions. The firm expects to increase its staff and compliance resources within the region. The new location allows the company to support larger strategies in North America.
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