MoonPay Secures New York Trust Charter to Expand Crypto Custody and OTC Services

Crypto payments firm MoonPay has received regulatory approval from the New York Department of Financial Services (NYDFS), obtaining a New York Trust Charter that allows the company to safeguard customers’ digital assets and offer over-the-counter (OTC) trading services. The approval marks a major milestone for MoonPay as it moves deeper into institutional-grade compliance and strengthens its position within the U.S. digital asset ecosystem.

With the new charter, MoonPay can now custody digital assets on behalf of clients and facilitate direct OTC trades without relying on centralized exchanges. CEO and co-founder Ivan Soto-Wright said the achievement highlights the company’s commitment to delivering Wall Street-level security and regulatory standards. He emphasized that the charter will help MoonPay expand its regulated services and build stronger relationships with global financial institutions as it continues to bridge traditional and digital finance.

Thom Hook, MoonPay’s global and U.S. chief compliance officer, told Decrypt that the first products made possible by the charter are currently in development. While not yet ready for public release, he noted that MoonPay Trust Company provides the regulatory foundation needed to offer secure, compliant custody and OTC solutions that meet strict NYDFS requirements. He added that MoonPay plans to roll out these services in additional U.S. states once it completes the required regulatory steps.

MoonPay now joins a small group of crypto-native firms—including Coinbase, PayPal, Ripple, Paxos, and NYDIG—that hold either a BitLicense, a New York Trust Charter, or both. Meanwhile, major industry players such as Coinbase, Circle, and Crypto.com are seeking national trust bank charters, following the path of Anchorage Digital, which became the first federally chartered digital asset bank in 2021.

The trust charter also positions MoonPay for future opportunities in the stablecoin sector. Although stablecoin services still require separate approval under NYDFS rules, MoonPay said the new charter creates a pathway to issuing stablecoins under the recently passed Genius Act, opening the door to potential competition with large financial institutions like Citigroup.

Earlier this month, MoonPay launched its enterprise stablecoin division, integrating with M0 to allow businesses to manage fully reserved digital dollars across multiple blockchains. The company, already known for enabling crypto purchases through Apple Pay, debit cards, and other payment methods, has continued expanding its fintech partnerships. In May, Mastercard announced a collaboration with MoonPay to power stablecoin-enabled payment cards that convert crypto to fiat instantly during transactions.

MoonPay’s latest regulatory approval underscores the growing convergence between crypto infrastructure and traditional finance, positioning the company to play a more significant role in the evolving digital asset economy.