In a major regulatory milestone, MoonPay, a leading global crypto-payments infrastructure provider, has officially received a New York Limited Purpose Trust Charter from the New York State Department of Financial Services (NYDFS).
This approval authorizes the newly formed MoonPay Trust Company, LLC to offer digital-asset custody and over-the-counter (OTC) trading services to institutional and enterprise clients, bringing MoonPay under one of the world’s most respected regulatory frameworks.
Why This Matters: The Regulatory Leap
- Dual Licensing Achieved: In June 2025, MoonPay secured a BitLicense from NYDFS, enabling it to operate across all 50 U.S. states.
- With the new Trust Charter, MoonPay now joins a very select group of digital-asset firms, including Coinbase, Ripple, PayPal, and NYDIG, that hold both major New York crypto licenses.
- This dual regulatory status strengthens MoonPay’s appeal to traditional financial institutions, which often require bank-grade compliance before entering the crypto space.
What the Charter Enables: New Services & Institutional Offerings
With the Trust Charter, MoonPay Trust Company can now:
- Custody digital assets on behalf of clients, legally holding cryptocurrencies for institutions.
- Facilitate OTC trading, enabling large-scale crypto transactions outside of public exchanges.
- Operate under stringent NYDFS oversight, offering reassurance around compliance, security, and governance, which is crucial for institutional partners.
- Create a potential foundation for future regulated stablecoin issuance, though any such initiative would require separate NYDFS approval.
According to MoonPay’s co-founder and CEO, this move “reflects our commitment to meeting the highest standards of compliance, security, and governance” and enables the company to deepen relationships with global financial institutions while bridging traditional and digital finance in a trusted way.
Broader Context: Why It Matters for Crypto & Traditional Finance
The U.S., and especially New York, remains one of the most regulated environments for cryptocurrencies.
By obtaining both a BitLicense and a Trust Charter, MoonPay sets itself apart in a market where regulatory compliance is often cited as a barrier for crypto firms seeking mainstream adoption.
For institutions, banks, asset managers, fintechs, this regulatory approval makes MoonPay a far more credible and compliant partner when exploring digital-asset custody, stablecoin issuance, or OTC crypto trading. The approval could therefore catalyze greater institutional entry into the crypto ecosystem, bridging legacy finance with blockchain-based infrastructure.
About MoonPay
Established in 2019, MoonPay provides payment and blockchain infrastructure that simplifies the purchase, sale, trade, and custody of cryptocurrencies.
With MoonPay Trust Company now regulated by NYDFS, the firm is well-positioned to deliver compliant, scalable crypto services to institutions, supporting the broader growth and institutional adoption of digital assets worldwide.
FAQs
Q: What exactly is a “New York Limited Purpose Trust Charter”?
A: A New York Limited Purpose Trust Charter is a regulatory authorization issued by NYDFS that permits a firm to act as a fiduciary, offering services such as custody of digital assets and over-the-counter trading under strict compliance, anti-money laundering (AML), and security standards.
Q: Why is MoonPay’s approval significant for the crypto industry?
A: It marks MoonPay’s entry into a very small group of crypto firms that have achieved dual regulation (BitLicense and Trust Charter) in New York. This helps build trust among traditional financial institutions and promotes the adoption of crypto services in institutional finance.
Q: Does this mean MoonPay will create its own stablecoin now?
A: While the trust charter provides a regulatory foundation that could support stablecoin issuance, any such stablecoin by MoonPay would require separate approval from NYDFS before launching.
Q: Does this approval change the way retail users interact with MoonPay?
A: The charter primarily affects institutional and enterprise-level services (custody and OTC trading). Retail services, such as buying, selling, and trading crypto via MoonPay, remain unchanged.
Q: Which other companies have both a BitLicense and a Trust Charter in New York?
A: Other firms include Coinbase, PayPal, Ripple, and NYDIG. MoonPay’s addition to this group underscores its regulatory commitment and maturity.
