Cryptocurrency payments company MoonPay announced it has been granted a trust charter by New York’s Department of Financial Services (NYDFS). The approval allows the company to offer crypto custody and over-the-counter trading services within the state, expanding its regulated offerings. MoonPay previously obtained a BitLicense from the NYDFS in June, making it one of the few crypto companies to hold both approvals.
CEO highlights growth opportunities
MoonPay co-founder and CEO Ivan Soto-Wright said the trust charter will enable the company to “deepen relationships with global financial institutions” and enhance its existing regulated services. Other firms with both a trust charter and a BitLicense include Ripple Labs, Coinbase, and NYDIG. Coinbase and Ripple have also applied for a federal trust charter with the US Office of the Comptroller of the Currency, though the regulator had not announced a decision as of Tuesday.
🗽 MoonPay is now authorized by NYDFS to operate MoonPay Trust Company in New York!
🍎 this expanded regulatory footprint unlocks digital asset custody and OTC trading for our financial infrastructure
🚀 NY BitLicense + Trust Charter = a new era of compliant innovation pic.twitter.com/LtTuZuxY1k— MoonPay 🟣 (@moonpay) November 25, 2025
Expansion into stablecoin infrastructure
Following the GENIUS Act, which establishes a framework for payment stablecoins, several crypto companies are expanding into stablecoin-related services. MoonPay announced on Nov. 13 that it had launched an initiative allowing issuers to create and distribute their own stablecoins. The law may also influence traditional finance, with Visa expanding stablecoin offerings on its settlement platform and Bank of America reportedly considering a stablecoin in partnership with other financial institutions.