Key Takeaways:
- MoonPay has received approval to operate in the Netherlands under MiCA.
- The company expands services in Texas, offering crypto transactions via Venmo and PayPal.
- MoonPay’s global expansion includes obtaining 45 Money Transmitter Licenses across the U.S.
MoonPay, a global leader in crypto payment solutions, has announced that it has secured approval to operate as a licensed crypto business in the Netherlands. The license is under the European Union’s Markets in Crypto-Assets regulation and represents a key milestone for the company.
The MiCA bill, which was ratified by the European Parliament in April this year, had in its sights a pan-European regime for digital assets under one regulatory roof.
Given that the entire framework will be fully performed by December 30th, this successful approval given to MoonPay will surely have helped to indicate a full readiness for enhancement of its European presence, coupled with serious security and compliance standards. Ivan Soto-Wright, the co-founder and CEO of MoonPay, expressed his firm’s excitement, stating that MiCA constitutes a turning point for digital assets in Europe.
Expanding Crypto Accessibility in Texas
It is not behind in the U.S. either, as it has just expanded into Texas. The Texas Department of Banking granted MoonPay a Money Transmitter License, which will enable the firm to provide money transmission services within the state. Residents in Texas will henceforth be able to buy 64 different cryptocurrencies using Venmo and PayPal, thus increasing digital currency access in the Lone Star State.
Texas is a focal market for the company, with the state having one of the most extensive Bitcoin mining operations and massive crypto ownership. An estimated one out of five Texans owns some form of cryptocurrency, a move that will tap into increasing demand. It will also roll out services to enable Texas residents to sell popular cryptocurrencies like Bitcoin, Ethereum, and Solana in 2025.
MoonPay’s Global Regulatory Footprint
Its commitment to compliance reflects in the way MoonPay is proactive with its processes for securing regulatory approvals across different parts of the world. It has just gained 45 new Money Transmitter Licenses across different states in the U.S. that allow its access into diverse markets.
This expansion is part of MoonPay’s broader strategy to become a trusted player in the global crypto ecosystem, ensuring that both users and regulatory bodies can have confidence in its operations.
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