MoonPay Secures NYDFS Approval for Crypto Custody and Trading Services
MoonPay has achieved a significant regulatory milestone with approval from New York's Department of Financial Services (NYDFS) to operate MoonPay Trust Company. This authorization enables the firm to offer digital asset custody and over-the-counter trading services in one of the most stringent regulatory environments globally.
The trust charter complements MoonPay's existing BitLicense, obtained earlier this year, effectively transforming the company from a simple fiat-to-crypto on-ramp into a full-service institutional platform. The approval allows MoonPay to safeguard client assets and execute large-volume trades, positioning it alongside established financial firms in the digital asset space.
New York's regulatory framework now permits MoonPay to serve institutional clients requiring compliant custody solutions—a critical gateway for deeper capital deployment into cryptocurrencies. The dual licensing structure (BitLicense + Trust Charter) creates a comprehensive operational framework that could accelerate institutional adoption in the state.
