MoonPay to Offer Crypto Custody, OTC Trading in NY After Trust Charter Win

MoonPay is set to launch crypto custody and over-the-counter trading services for New York clients after being granted a state trust charter.

The New York Department of Financial Services (NYDFS) approved the charter, allowing the payments company to hold digital assets on behalf of customers and facilitate large, private trades.

CEO Ivan Soto-Wright stated the new capabilities will help the firm build stronger ties with financial institutions, building on the regulatory foundation it established with its BitLicense obtained earlier this year.