With dual regulatory approval, MoonPay positions itself to offer advanced digital asset custody and fiduciary services to institutions in New York.
MoonPay, a crypto payment infrastructure provider, secured a Limited Purpose Trust Charter from the New York Department of Financial Services, joining an exclusive group of firms authorized to offer comprehensive crypto services in New York State.
The trust charter complements MoonPay’s existing BitLicense from the NYDFS, giving the company dual regulatory approval under New York’s strict crypto framework. Only a few major companies hold both licenses, including Coinbase, PayPal, Ripple, and NYDIG.
The Limited Purpose Trust Charter allows MoonPay to provide custody and other fiduciary services for digital assets, expanding beyond its core payment processing capabilities. The BitLicense enables basic crypto transmission and exchange services within New York.
New York maintains some of the most stringent crypto regulations in the US, with the NYDFS requiring extensive compliance measures for firms seeking to operate in the state’s financial sector.
