NYSE Owner in Talks to Invest in MoonPay at $5 Billion Valuation

Wall Street's old guard just placed a massive bet on crypto's front door.

The Institutional Stamp of Approval

Forget the wild west narrative. When the entity behind the world's most iconic stock exchange starts cutting checks, it signals a fundamental shift. This isn't fringe speculation; it's a calculated move into the infrastructure that onboards the next million—or billion—users. Traditional finance isn't just watching from the sidelines anymore; it's buying the gate.

Valuation Speaks Louder Than Words

A five-billion-dollar price tag for a crypto payments firm cuts through regulatory noise and market volatility. That number alone validates an entire sector, telling asset managers and pension funds that scalable, compliant fiat-to-crypto rails are worth more than just hype. It's a figure that makes even the most cynical banker pause their usual rant about 'digital tulips.'

The New Pipeline

This deal builds a direct conduit. Imagine retirement funds and ETFs flowing through the same pipes used by NFT collectors and DeFi degens. MoonPay becomes the neutral plumbing, and its new backer owns the reservoir. It's a masterclass in infrastructure investment—owning the toll road for the entire digital asset economy.

The Bottom Line

The message is clear: the future of finance is a hybrid. The titans of traditional markets aren't here to replace crypto; they're here to capitalize on its growth by securing the on-ramps. One can almost hear the legacy finance crowd muttering, 'If you can't beat 'em, write them a check at a premium valuation.' The game just changed.

ICE’s approach to crypto exposure

Intercontinental Exchange has so far moved carefully when it comes to crypto. While the exchange operator has backed digital-asset ventures such as Bakkt, it has stayed away from running or promoting crypto trading platforms itself.

A stake in MoonPay would follow that same pattern. Rather than taking on market risk tied to token prices, the investment would give ICE exposure to the payments side of crypto.

Market participants view payments and on-ramp providers as one of the more resilient segments of the crypto industry in 2025, especially as stablecoins, tokenized assets, and on-chain settlement gain traction. Regulatory clarity around digital payments in major jurisdictions has further increased the appeal of firms that already operate within established compliance frameworks.

Neither ICE nor MoonPay has issued an official statement regarding the reported discussions. Talks like this could still fall through or result in a smaller strategic investment rather than a lead role in the funding round.

Market context

The year 2025 has seen the crypto market shift from speculation to infrastructure and utility-driven growth, particularly in areas such as stablecoins and settlement networks. Regulatory changes in major markets, such as the Clarity Act in the U.S. and MiCA compliance in the EU, have pushed institutional players. The new approach from them is to prioritize partners with robust risk-management systems and transparent governance.

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