MoonPay Secures New York BitLicense, Expanding U.S. Crypto Payment Services

MoonPay has obtained the coveted BitLicense and money transmitter license from the New York Department of Financial Services, marking a significant milestone for the crypto payments firm. This approval allows MoonPay to offer its full suite of fiat-to-crypto services to New York customers, eliminating previous coverage gaps in its U.S. operations.

The BitLicense, often regarded as the Gold standard in U.S. crypto regulation, permits MoonPay to custody digital assets and provide exchange services in New York. With licenses now secured in 47 U.S. jurisdictions and international registrations in the UK, Australia, and Canada, MoonPay solidifies its position as a global player in crypto payments.

New York's stringent regulatory environment has made the BitLicense notoriously difficult to obtain since its 2015 inception. The approval comes amid debates over the license's future, with New York City Mayor Eric Adams recently suggesting its discontinuation.