MoonPay, a cryptocurrency payment company, has obtained a new trust charter from New York’s financial regulators, allowing it to securely hold users’ digital assets and offer over-the-counter (OTC) trading services. With this approval, MoonPay joins Coinbase and Ripple among the few companies authorized to operate under New York’s stringent regulatory framework. Known for facilitating cryptocurrency payments and transactions, MoonPay provides services such as easy crypto buying, selling, and other financial operations, gaining popularity especially in the OTC trading sector. The trust charter imposes strict compliance requirements on the company, ensuring the protection of customer funds. This regulatory milestone is significant given New York’s reputation for rigorous oversight, and MoonPay’s inclusion alongside major players signals its commitment to legal and financial transparency, likely boosting consumer confidence. Looking ahead, MoonPay is expected to expand its services within New York and attract new users, although ongoing regulatory changes and market volatility may present challenges. Nonetheless, the charter offers MoonPay enhanced legal safeguards and prospects for greater market stability.
Source: decrypt
