cryptobriefing.com
Key Takeaways
- Intercontinental Exchange is in discussions to invest in MoonPay, a crypto payments company.
- This move highlights Intercontinental Exchange's continued expansion in digital assets.
Intercontinental Exchange (ICE), the global exchange operator that owns the New York Stock Exchange, is considering an investment in MoonPay, Bloomberg reported Thursday.
Discussions are said to be underway as part of a funding round that could value MoonPay at around $5 billion, up from a $3.4 billion valuation in its last funding round in 2021.
MoonPay is a crypto payment infrastructure provider that allows users to buy and sell digital assets. The company recently secured a Limited Purpose Trust Charter from the New York Department of Financial Services, allowing the firm to offer expanded crypto services, including custody in New York.
Holding both the trust charter and an existing BitLicense positions MoonPay among a prestigious group of entities like Coinbase, PayPal, and Ripple, which have comprehensive regulatory approvals to operate under New York’s stringent crypto regulatory framework.
The report comes a day after Caroline Pham, acting chair of the US Commodity Futures Trading Commission, was confirmed to be joining MoonPay as chief legal and administrative officer.
Intercontinental Exchange, which also owns the Bakkt crypto platform, has expanded its presence in the digital asset space in recent years. The company recently announced a $2 billion investment in Polymarket.