MoonPay Joins “Dual License Club” After Securing NYDFS Limited Purpose Trust Charter

Core Insights - MoonPay has received a Limited Purpose Trust charter from the New York State Department of Financial Services (NYDFS) to offer digital asset custody and over-the-counter trading, joining a select group of companies with both a BitLicense and this charter [1] - The new license enhances regulatory compliance for MoonPay's 30 million customers and nearly 500 client and partner companies, marking the firm as fully licensed in the US and regulated in the UK, EU, Canada, and Australia [2] Regulatory Compliance - Industry analysts have noted the significance of MoonPay's focus on state compliance, especially as many companies pursue national charters, highlighting the importance of robust compliance measures [3] - MoonPay has also pursued global compliance certifications in various regions, including securing an operational license for the Dutch market under the EU's Markets-in-Crypto-Assets (MiCA) regulation, effective December 2024 [3] Partnerships and Developments - MoonPay announced a partnership with Arkham Exchange to integrate fiat-to-crypto on and offramps, enhancing funding methods for the exchange's users [4] - The company also established partnerships with Zengo Pro and Haha Wallet, indicating a period of active collaboration and expansion [4]