• MoonPay’s trust charter allows secure crypto custody and OTC trading in New York, enhancing compliance and service expansion.

• The approval follows MoonPay’s BitLicense acquisition, making it one of few companies with dual NYDFS licenses.

• This move aligns with broader U.S. stablecoin regulations under the GENIUS Act, with MoonPay launching stablecoin issuance tools for partners.

MoonPay secures NYDFS trust charter for crypto services: Discover how this boosts regulated payments, custody, and stablecoin infrastructure in 2025. Explore implications for the industry now.

What is MoonPay’s Trust Charter from NYDFS and Why Does It Matter?

MoonPay’s trust charter from the New York Department of Financial Services (NYDFS) is a significant regulatory milestone that permits the company to provide fiduciary services, including cryptocurrency custody and over-the-counter (OTC) trading, within New York state. Granted after obtaining a BitLicense in June, this dual approval underscores MoonPay’s commitment to operating under stringent U.S. financial regulations. The charter enhances MoonPay’s ability to serve institutional clients securely, fostering trust in the evolving crypto payments landscape.

The NYDFS, known for its rigorous oversight of financial entities, issues trust charters to companies that demonstrate robust compliance frameworks, risk management, and consumer protection measures. For MoonPay, a leading fiat-to-crypto on-ramp provider, this development means expanded capabilities to handle client assets with the same fiduciary responsibilities as traditional banks. According to NYDFS guidelines, trust companies must maintain high capital reserves and undergo regular audits, ensuring stability in volatile markets like cryptocurrency.

Industry experts view this as a positive step toward mainstream adoption. As one analyst from a major financial research firm noted, “Regulatory clarity like the NYDFS trust charter is essential for bridging traditional finance and digital assets, reducing barriers for global institutions.” MoonPay’s CEO, Ivan Soto-Wright, emphasized in a company announcement that the approval will “deepen relationships with global financial institutions” and broaden its regulated services footprint.

How Does the GENIUS Act Influence MoonPay’s Stablecoin Strategy?

The GENIUS Act, signed into law in July, establishes a comprehensive federal framework for payment stablecoins in the United States, aiming to standardize issuance, reserves, and redemption processes while promoting innovation. Although not yet fully effective, this legislation has prompted crypto firms like MoonPay to pivot toward stablecoin infrastructure. On November 13, MoonPay announced an initiative enabling stablecoin issuers to launch and distribute their tokens through its platform, leveraging the company’s payment rails for seamless integration.

This strategic move positions MoonPay at the forefront of stablecoin growth, a sector projected to exceed $200 billion in market capitalization by the end of 2025, according to data from Chainalysis. Stablecoins, pegged to fiat currencies like the U.S. dollar, facilitate efficient cross-border transactions and DeFi applications, but they require regulatory compliance to mitigate risks such as depegging or illicit use. The GENIUS Act mandates 1:1 asset backing and monthly attestations, which MoonPay’s new tools help partners achieve without building infrastructure from scratch.

Supporting this, MoonPay’s trust charter complements stablecoin operations by providing secure custody solutions, essential for holding reserves. Expert commentary from a blockchain policy think tank highlights, “The GENIUS Act’s clarity is catalyzing partnerships between crypto natives and legacy finance, with firms like MoonPay leading the charge.” In practice, this means MoonPay can now support tokenized assets in regulated environments, appealing to enterprises wary of unregulated exposures.

Furthermore, the regulatory tailwinds are influencing traditional players. Visa expanded its stablecoin settlement offerings in July, integrating them into its global network for faster, lower-cost payments. Similarly, Bank of America CEO Brian Moynihan indicated the bank is exploring stablecoin creation in collaboration with peers, potentially transforming wholesale banking. These developments illustrate how the GENIUS Act is reshaping the payments ecosystem, with MoonPay’s enhancements serving as a key enabler.

Source: MoonPay

MoonPay joins a select group of crypto entities with both a trust charter and BitLicense from NYDFS, including Ripple Labs, Coinbase, and NYDIG. These companies have navigated New York’s stringent BitLicense regime since 2015, which requires licensees to implement anti-money laundering programs and cybersecurity protocols. Notably, Coinbase and Ripple have pursued federal trust charters from the Office of the Comptroller of the Currency (OCC), signaling a broader push for national-level regulation, though no decisions were announced as of the latest updates.

The trust charter’s implications extend beyond custody. For OTC trading, MoonPay can now facilitate large-volume crypto transactions off-exchange, minimizing market impact and slippage—critical for institutional traders. Data from the NYDFS indicates that trust companies oversee billions in assets, with crypto-focused ones growing rapidly amid rising adoption. Soto-Wright’s vision of deepening institutional ties aligns with this, as MoonPay’s user base, serving over 20 million customers globally, increasingly includes banks and fintechs seeking compliant entry points.

In the context of 2025’s regulatory environment, this approval reflects NYDFS’s evolving stance. The department, under Superintendent Adrienne Harris, has approved several crypto charters this year, including WisdomTree’s trust company status. Such decisions balance innovation with safeguards, drawing from lessons in past incidents like the FTX collapse, where inadequate custody played a role. MoonPay’s compliance-first approach, evidenced by its ISO 27001 certification for information security, bolsters its E-E-A-T credentials in the space.

Frequently Asked Questions

What Services Can MoonPay Offer with Its NYDFS Trust Charter?

With the NYDFS trust charter, MoonPay can provide cryptocurrency custody services to safeguard client digital assets and facilitate over-the-counter trading for high-volume deals in New York. This ensures fiduciary-grade protection, including segregated accounts and insurance, meeting state standards for financial stability and transparency.

How Is MoonPay Preparing for the GENIUS Act’s Stablecoin Framework?

MoonPay is gearing up for the GENIUS Act by launching a stablecoin issuance platform that helps partners create, distribute, and manage compliant tokens. This initiative supports the law’s requirements for full reserves and audits, making it easier for issuers to enter the U.S. market with regulated products that integrate smoothly into payment systems.

Key Takeaways

• MoonPay’s Dual Licensing Strengthens Compliance: Holding both a BitLicense and trust charter from NYDFS positions MoonPay as a trusted provider for custody and OTC services, appealing to risk-averse institutions.
• GENIUS Act Drives Stablecoin Expansion: The new law’s framework has spurred MoonPay’s initiative for stablecoin tools, aligning with industry shifts seen in Visa and Bank of America’s strategies.
• Broader Industry Implications: This approval highlights New York’s role in crypto regulation, encouraging more firms to seek charters for secure, scalable operations in the U.S.

Conclusion

MoonPay’s acquisition of the NYDFS trust charter marks a pivotal advancement in regulated cryptocurrency services, complementing its BitLicense and enabling robust crypto custody alongside OTC trading in New York. As the GENIUS Act paves the way for stablecoin innovation, MoonPay’s strategic initiatives position it to support a more integrated financial ecosystem. Looking ahead, these developments promise greater institutional participation in digital assets, urging stakeholders to prioritize compliance for sustainable growth.