Approval from NYDFS positions MoonPay among a select group of crypto firms offering custody and OTC trading under New York’s strict regulatory framework
Cryptocurrency payments company MoonPay has received a major regulatory milestone in the United States, gaining a New York trust charter from the state’s Department of Financial Services (NYDFS). The approval places MoonPay among a limited number of digital asset firms authorized to operate highly regulated services in one of the toughest compliance jurisdictions in the world. The charter follows the company’s earlier receipt of a BitLicense in June, strengthening its position within the expanding U.S. crypto regulatory environment.
MoonPay Expands Regulated Crypto Services
With the trust charter now granted, MoonPay can legally provide crypto custody and over-the-counter (OTC) trading services across New York. These offerings are considered essential for institutional clients seeking secure and compliant digital asset solutions.
The company highlighted that this advancement will allow it to “deepen relationships with global financial institutions,” according to CEO Ivan Soto-Wright, underscoring the growing demand for regulated infrastructure as crypto integrates more deeply into traditional finance.
MoonPay now joins companies such as Ripple Labs, Coinbase, and NYDIG — firms that hold both a BitLicense and a trust charter, positioning them at the forefront of New York’s regulated digital asset ecosystem.
NYDFS Trust Charter Signals Strengthened Compliance
New York remains one of the most highly regulated crypto environments in the world, making this approval a significant marker of compliance.
Meanwhile, major firms like Coinbase and Ripple are still awaiting feedback on their applications for a federal trust charter with the U.S. Office of the Comptroller of the Currency.
Stablecoin Infrastructure Expands Under the GENIUS Act
The approval arrives at a time when the U.S. stablecoin market is undergoing transformation driven by the GENIUS Act, a new framework for payment stablecoins signed earlier this year.
Although the law is not yet active, MoonPay has already moved into stablecoin infrastructure, launching an initiative enabling issuers to create and distribute their own stablecoins.
Traditional financial institutions are also adapting to the shift. Visa expanded its stablecoin settlement capabilities in July, while Bank of America’s CEO said the bank is evaluating the possibility of launching a stablecoin with industry partners.
MoonPay’s trust charter approval marks an important step forward in the regulated U.S. crypto landscape. By securing both a BitLicense and a trust charter, the company strengthens its capacity to serve institutions seeking compliant digital asset services and positions itself as a significant player in the emerging stablecoin economy.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.