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Tuesday Nov 25 2025 16:10
2 min
Cryptocurrency payments firm MoonPay has announced it will broaden its range of regulated services after securing a trust charter from New York’s Department of Financial Services (NYDFS). In a statement released Tuesday, MoonPay confirmed the approval, enabling the company to provide cryptocurrency custody and over-the-counter (OTC) trading solutions within New York state.
Ivan Soto-Wright, co-founder and CEO of MoonPay, stated that the charter would enable the company to “deepen relationships with global financial institutions” and expand its current regulated service offerings. MoonPay previously obtained a BitLicense from the NYDFS in June.
Several other prominent crypto and payments companies, including Ripple Labs, Coinbase, and NYDIG, have also been granted both a trust charter and a BitLicense by the NYDFS. Both Coinbase and Ripple have pending applications for a federal trust charter with the US Office of the Comptroller of the Currency, although a decision has yet to be announced.
Following the enactment of the GENIUS Act in July, which establishes a regulatory framework for payment stablecoins, multiple cryptocurrency companies have moved to integrate stablecoin offerings into their platforms. Even though the law is not yet fully in effect, MoonPay announced on November 13th an initiative aimed at empowering issuers to launch and distribute their own stablecoins.
The GENIUS Act may also be influencing the strategies of traditional finance companies within the US. Visa announced in July that it had expanded stablecoin support on its settlement platform, and Bank of America CEO Brian Moynihan has reportedly indicated that the bank is considering the creation of its own stablecoin in partnership with other financial entities.
Risk Warning: this article represents only the author’s views and is for reference only. It does not constitute investment advice or financial guidance, nor does it represent the stance of the Markets.com platform.When considering shares, indices, forex (foreign exchange) and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and could result in capital loss.Past performance is not indicative of any future results. This information is provided for informative purposes only and should not be construed to be investment advice. Trading cryptocurrency CFDs and spread bets is restricted for all UK retail clients.
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