• MoonPay gets BitLicense approval and can now offer crypto services directly in New York.

  • The license lets MoonPay serve all 50 states without using any third party for compliance.

  • MoonPay adds a new US headquarters and grows its reach with key acquisitions and licenses.

MoonPay has acquired the BitLicense and a money transmitter license from the New York Department of Financial Services. With this approval, residents of New York can now enjoy the company’s fiat-to-crypto services.

https://twitter.com/EleanorTerrett/status/1930226814204469543 Access Granted to a Heavily Regulated Market

The BitLicense, used for crypto activities in New York, is widely recognized for its strict compliance requirements. It allows licensed entities to handle digital assets, carry out exchange and offer similar services. Only 35 firms, including major players like Coinbase and Circle, hold this license.

MoonPay’s approval positions it among a select group authorized to legally operate in the state. This marks a major step in MoonPay’s U.S. expansion efforts and strengthens its credibility in regulated markets.

Nationwide Reach Achieved

After gaining approval, MoonPay can now act as a money transmitter in 47 U.S. states. The organization holds the necessary registrations to operate in the United Kingdom, Netherlands and Australia. MoonPay does not require third-party help and can now offer services to customers in all U.S. states.

The company recently opened a new U.S. headquarters in SoHo, New York. The company is choosing to invest more in the U.S. crypto market and is doing this as part of its broader expansion plan.

Regulatory Climate Remains Under Debate

The BitLicense framework has long faced criticism for stifling innovation. New York City Mayor Eric Adams has publicly questioned its relevance. Despite this, the license remains a requirement for crypto businesses operating in the state.

In contrast, some companies have exited the market due to the framework’s complexity. Earlier this year, Genesis Global Trading surrendered its BitLicense following regulatory actions. The event highlighted the risks of non-compliance in this strict environment.

A Step Toward U.S. Market Leadership

MoonPay’s licensing milestone follows a period of strong financial performance. The company recently acquired infrastructure firms Iron and Helio to scale its fiat-to-crypto operations. These moves underline its strategy to become a key player in crypto-fintech.

Approval in New York may also boost institutional trust. The license provides assurance of regulatory compliance, a crucial factor for larger financial partnerships.

Global Momentum Continues

MoonPay’s efforts extend beyond U.S. borders. In late 2024, it received authorization under the EU’s MiCA regulation through the Netherlands. This helped strengthen its international standing.

Now, with U.S. and European approvals secured, MoonPay is positioned to lead in both markets. Its regulatory path highlights a model of expansion based on compliance and accessibility.