Crypto Payments Firm MoonPay Set For $5 Billion Valuation With NYSE Owner’s Backing

Overview

MoonPay, a prominent crypto payment platform, is on the verge of achieving a substantial valuation of approximately $5 billion, bolstered by potential investment discussions with Intercontinental Exchange (ICE), the owner of the New York Stock Exchange (NYSE). This development underscores MoonPay’s growth trajectory and its recent regulatory achievements, which position the company favorably within the evolving crypto landscape.

Recent Developments

MoonPay, headquartered in New York, is dedicated to streamlining cryptocurrency transactions through a variety of payment options, such as PayPal, Apple Pay, and Venmo. The platform has also introduced tools that allow users to send, receive, and manage stablecoins, enhancing its service offerings in the crypto space.

A significant recent milestone for MoonPay is the acquisition of a Limited Purpose Trust Charter from the New York Department of Financial Services (NYDFS). This regulatory approval complements its existing BitLicense and enables MoonPay to broaden its custody and other crypto services within New York. This development places MoonPay in a competitive position alongside established entities like Coinbase and PayPal, which also operate under New York’s stringent digital asset regulations.

Adding to the momentum, Caroline Pham, the acting chair of the Commodity Futures Trading Commission (CFTC), is set to join MoonPay as its chief legal and administrative officer. Pham has been an influential figure in the regulatory realm, having served on the CFTC’s board since April 2022 and stepping into the role of acting chair in January 2025. Her upcoming transition to the private sector follows the anticipated confirmation of a permanent chair, expected soon.

During her tenure, Pham has expedited several initiatives aimed at enhancing the regulatory framework for cryptocurrencies, such as allowing spot crypto trading on futures exchanges and launching a pilot program for digital assets in derivatives markets. Additionally, her operational reforms within the CFTC reportedly resulted in significant cost savings.

Pham’s decision to join MoonPay stems from her belief in the importance of relationships in her career. Her connection to the company began during a dinner hosted by Christie’s Art + Tech in 2023, where she met MoonPay’s president, Keith Grossman. Their initial conversation led to a friendship and subsequent professional discussions as Pham evaluated her post-government career options. Grossman expressed strong confidence in Pham’s leadership abilities, emphasizing the need for expertise in regulatory matters to support MoonPay’s growth.

From author

The developments surrounding MoonPay highlight not only the company’s ambitions but also the broader regulatory dynamics within the cryptocurrency sector. The involvement of a prominent figure like Caroline Pham indicates a strategic move to enhance MoonPay’s regulatory compliance and operational capabilities. As the crypto market continues to evolve, such leadership changes may play a crucial role in shaping the future of crypto payment solutions.

Impact on the crypto market

• MoonPay’s potential $5 billion valuation reflects growing investor confidence in cryptocurrency payment solutions.
• The acquisition of regulatory approvals positions MoonPay as a leading player in the New York crypto market.
• Caroline Pham’s transition to MoonPay may enhance the company’s regulatory strategy and compliance, potentially influencing other firms in the sector.
• The increasing integration of traditional payment methods with cryptocurrencies may drive wider adoption among users.
• MoonPay’s competitive stance against established firms like Coinbase and PayPal could lead to innovation and improved services in the crypto payment landscape.