MoonPay has taken a major regulatory leap forward after being granted a New York Limited Purpose Trust Charter by the New York State Department of Financial Services (NYDFS), a status that allows the company to offer digital asset custody and OTC trading services in one of the world’s toughest regulatory environments. Combined with the BitLicense it secured in June 2025, MoonPay now joins a very exclusive group of dual-licensed firms that includes Coinbase, PayPal, Ripple, and NYDIG.
Dual Licensing Unlocks New Institutional Capabilities
The new trust charter significantly widens MoonPay’s scope. Best known for its fiat-to-crypto on-ramp, MoonPay can now operate as a regulated fiduciary in New York, an essential requirement for banks, asset managers, and fintech institutions evaluating digital asset exposure.
With this approval, MoonPay gains the ability to:
- Custody digital assets for institutional and enterprise clients
- Provide regulated OTC trading services
- Offer advanced, institution-grade crypto infrastructure
- Serve as a fiduciary, meeting standards required by traditional financial institutions
According to CEO Ivan Soto-Wright, the charter represents MoonPay’s commitment to top-tier compliance, security, and governance at a time when global institutions are seeking safe, regulated pathways into digital assets.
A Stronger Institutional Appeal
Being among the few companies holding both a BitLicense and a Trust Charter dramatically strengthens MoonPay’s standing with major financial partners. Dual licensing is increasingly viewed as a marker of operational maturity, particularly for firms seeking to integrate crypto services into established payment networks, fintech offerings, and institutional finance.
As Soto-Wright noted, the move positions MoonPay as a more reliable partner for companies that require stringent regulatory assurance.
Possible Pathway to Compliant Stablecoin Issuance
The formation of MoonPay Trust Company could also open the door to future stablecoin issuance under frameworks like the proposed federal GENIUS Act, though any such product would require an additional NYDFS approval. If pursued, it would make MoonPay one of several major payment firms exploring regulated on-chain dollars.
The trust charter cements MoonPay’s transition from a consumer-focused crypto entry point to a fully regulated digital asset infrastructure provider, one now equipped to compete for institutional market share in New York and beyond.