MoonPay Expands Across the U.S. With New York BitLicense

MoonPay, a global crypto payments company, has just received one of the toughest licenses in the industry, the New York BitLicense. This approval was granted by the New York State Department of Financial Services (NYDFS). With this, MoonPay can now operate directly across all 50 U.S. states. The approval places MoonPay among a small group of companies that have received the BitLicense since its introduction in 2015. Other approved companies include major players like Robinhood , Coinbase, Circle, and Ripple. The BitLicense: A High Bar for Crypto Companies The BitLicense is one of the strictest licenses for crypto businesses in the United States. It was the first state-level rule created to oversee digital currency activities and protect consumers in the country. The process of getting the license is known to be very demanding. It requires strong systems for safety, compliance, and financial reporting. Last year, the New York regulator approved only two companies, Anchorage Digital and Cumberland. Even though it is difficult to get, the license is now seen as a sign of trust and stability in the crypto industry. Companies with this license are considered more reliable and better prepared to follow U.S. rules and protect their customers. BitLicense To Boost MoonPay Growth This new license is expected to be important in MoonPay’s growth. It supports the company’s plan to grow across the United States. The company recently opened its U.S. headquarters in the SoHo area of Manhattan. This move came after the company reported strong financial results in 2024. MoonPay also bought two payment infrastructure companies, Iron and Helios, to build out its on-and-off ramp services. This payment infrastructure helps MoonPay boost its crypto payment services. Users can now easily switch between regular money and digital assets on the platform. With the new license, MoonPay can now offer its services directly to users in every state. Now, the company no longer needs to rely on third-party partners to serve American users, making it easier for it to grow and compete in the region’s crypto market. New York Emerges as a Crypto Hub New York was the first American city to license and supervise virtual currency companies. Aside from the BitLicense, regulators have issued more licenses to crypto and financial firms. This comes as the city’s clear crypto rules continue attracting big crypto industry players. Additionally, under Mayor Eric Adams’ leadership before his criminal indictment in 2024 , New York gained attention for its strong support of crypto. The city promoted initiatives like CityCoins and pushed for crypto education in schools , aiming to make the region more crypto-friendly. The post MoonPay Expands Across the U.S. With New York BitLicense appeared first on TheCoinrise.com .

Source: The Coin Rise