Lester Freeman
MoonPay is a financial technology company that builds payment infrastructure for cryptocurrencies. It is a software startup based in Miami, Florida, that facilitates the buying and selling of cryptocurrency, NFTs, and other digital assets using conventional payment methods. These include bank transfers, credit cards, and debit cards, as well as mobile wallets like Google Pay, Samsung Pay, and Apple Pay. MoonPay does not currently have stock or a crypto token available on the public market, so investing in the company requires access to the private capital market, generally limited to accredited investors. However, MoonPay CEO Ivan Soto-Wright has expressed intentions to eventually take the company public.
| Characteristics | Values |
|---|---|
| Founding | 2018 or 2019 in Miami, Florida |
| Headquarters | Dover, Delaware |
| Industry | Fintech, Crypto, Decentralized Finance (DeFi) |
| Services | Buy, sell, and swap cryptocurrencies, NFTs, and other digital assets |
| Payment Methods | Credit and debit cards, bank transfers, Apple Pay, Google Pay, Samsung Pay, PayPal |
| Security | AES-256 encryption, PCI-DSS and ISO 27001 compliant |
| Number of Accounts | 10 million+ |
| Countries Served | 160+ |
| Number of Partners | 300+ |
| Celebrity Investors | Justin Bieber, Ashton Kutcher, Gwyneth Paltrow, Snoop Dogg, and more |
| Valuation | $3.4 billion |
What You'll Learn
MoonPay's payment infrastructure for crypto
MoonPay is a financial technology company that builds payments infrastructure for crypto. Its on-and-off-ramp suite of products provides a seamless experience for converting between fiat currencies and cryptocurrencies. MoonPay is available in over 160 countries and is trusted by 300+ leading wallets, websites, and applications.
MoonPay offers a wide range of payment methods, including credit and debit cards, local bank transfers, Apple Pay, Google Pay, and Samsung Pay. It also accepts PayPal, wires, and transfers in certain regions. With MoonPay, users can easily buy, sell, and swap cryptocurrencies, as well as view their digital collectibles and NFTs in one place.
MoonPay's payment infrastructure is designed to be fast, secure, and seamless. It helps users complete purchases successfully, with better approval rates. The platform is built with security in mind, using AES-256 encryption and is PCI-DSS and ISO 27001 compliant.
MoonPay's on-ramp solution is highly regarded in the industry, with Bitcoin.com's CEP, Dennis Jarvis, praising it as "safe, fast, and highly scalable". The on-ramp can be integrated into apps and websites in minutes, providing global coverage, seamless revenue sharing, and zero risk of fraud or chargebacks.
MoonPay also offers off-ramp functionality, allowing users to turn their crypto into cash quickly and receive payments in their bank accounts, PayPal accounts, or Visa cards.
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MoonPay's suite of products for fiat-crypto conversion
MoonPay is a financial technology company that provides payment solutions for cryptocurrency. Its suite of on-and-off-ramp products offers a seamless experience for converting between fiat currencies and cryptocurrencies.
MoonPay's products are designed to make it easy for users to buy and sell cryptocurrencies like Bitcoin and Ethereum. With MoonPay, users can purchase crypto with their cards, Apple Pay, Google Pay, or PayPal, and sell it just as easily, receiving funds directly into their bank account, PayPal account, or Visa card.
The company's on-and-off-ramp infrastructure supports all major payment methods, including debit and credit cards, local bank transfers, Apple Pay, Google Pay, and Samsung Pay. MoonPay also offers a user-friendly interface, making digital assets accessible to customers new to crypto transactions.
MoonPay's off-ramp functionality, often called an "off-ramp" in the crypto industry, is an important feature. It ensures users are not locked into cryptocurrencies and can exit the crypto economy by selling crypto for fiat money at any time.
MoonPay also integrates with partner wallets and crypto exchanges, like Trust Wallet, to provide a comprehensive service. With Trust Wallet, users can follow a step-by-step guide to convert their crypto to fiat, with the added benefit of being able to buy, store, and collect NFTs, as well as access decentralised apps.
MoonPay's suite of products is designed to make the fiat-to-crypto journey simple, secure, and accessible, with a focus on empowering users to have full control over their digital assets.
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MoonPay's support for major payment methods
MoonPay is a financial technology company that provides payment solutions for cryptocurrency. It offers a seamless experience for converting between fiat currencies and cryptocurrencies using all major payment methods.
MoonPay supports various payment methods for customers worldwide. The platform accepts all major credit and debit cards, including Visa, MasterCard, and Maestro. For those looking to use their digital wallets, MoonPay also supports Apple Pay, Google Pay, and Samsung Pay. It's important to note that Google Pay is currently only supported on Android devices.
In terms of direct card payments, MoonPay accepts Visa. Additionally, for users in specific regions, PayPal is available as a payment option. This includes customers based in the US, UK, and most European countries, with a few exceptions.
For those looking to make bank transfers, MoonPay supports SEPA and SEPA Instant for EUR-denominated transactions in SEPA countries, as well as UK Faster Payments for GBP-denominated transactions in the UK. PIX is also supported, but only for BRL-denominated transactions in Brazil. Furthermore, P2P bank transfers are available for Naira transactions in Nigeria.
MoonPay's comprehensive support for major payment methods makes it convenient for users worldwide to invest in cryptocurrencies through the platform.
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MoonPay's plans to go public
MoonPay is a financial technology company that builds payment infrastructure for cryptocurrencies and non-fungible tokens (NFTs). It was founded in 2019 by Ivan Soto-Wright and Victor Faramond, with the former serving as CEO. The company is headquartered in Miami, Florida, and is currently active in around 160 countries.
MoonPay's software converts between fiat currencies and cryptocurrencies, using major payment methods such as debit and credit cards, local bank transfers, Apple Pay, Google Pay, and Samsung Pay. It also allows users to purchase NFTs through marketplaces and web3 exchanges like Coinbase, OpenSea, MetaMask, and Bitcoin.com, which have MoonPay integrated into their platforms.
In November 2021, MoonPay raised $555 million in its first financing round, led by Tiger Global Management and Coatue Management. The company was valued at $3.4 billion following this investment round. MoonPay has also brought in around 60 celebrity backers, including The Chainsmokers, raising a total of $87 million.
While MoonPay has not yet announced any plans to go public, it has made significant strides in the cryptocurrency and NFT spaces since its founding in 2019. The company has processed over $2 billion worth of crypto transactions and has more than 20 million accounts created worldwide. With its growing user base and continuous integration into other platforms, MoonPay could be well-positioned for a public offering in the future.
However, it is important to note that the cryptocurrency and NFT markets have experienced downturns due to scandals and macroeconomic challenges. As with any investment, there are risks involved, and it is essential to do your own research and understand the potential challenges and opportunities before investing.
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MoonPay's celebrity investors
MoonPay, a crypto payments infrastructure firm, has attracted investments from over 60 celebrities from the worlds of sports, music, and entertainment. The company raised \$87 million from celebrity investors, including Justin Bieber, Ashton Kutcher, Gwyneth Paltrow, and Snoop Dogg, as part of its \$555 million Series A funding round.
Other celebrity investors include Bruce Willis, Paris Hilton, Matthew McConaughey, Drake, and The Weeknd. Many of these celebrities, such as Snoop Dogg and Paris Hilton, are already known for their interest in the crypto industry and non-fungible tokens (NFTs). MoonPay has acted as a "concierge" for NFT purchases on behalf of several of these celebrity investors.
The company's CEO and co-founder, Ivan Soto-Wright, attributed the success of raising funds from celebrities to the growing interest in NFTs among artists and musicians, who are attracted to the revenue streams that can be created through digital assets. MoonPay aims to simplify the process of buying and selling cryptocurrencies and NFTs, partnering with exchanges like Coinbase, FTX, and OpenSea.
The investment from celebrities reflects their interest in the potential of Web3 technology to transform entertainment and enhance the value for creators worldwide. MoonPay's CEO, Ivan Soto-Wright, highlighted the use of smart contracts and blockchain technology by Hollywood to protect their creative intellectual property rights.
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Frequently asked questions
MoonPay does not currently have stock or a crypto token available on the public market. To invest, you need access to the private capital market, which is generally limited to accredited investors. However, MoonPay CEO Ivan Soto-Wright has expressed intentions to take the business public in the future.
MoonPay is a financial technology company that builds payment infrastructure for cryptocurrencies. It provides a seamless experience for converting between fiat currencies and cryptocurrencies using major payment methods, including credit and debit cards, local bank transfers, and mobile wallets like Apple Pay, Google Pay, and Samsung Pay.
MoonPay's long-term mission is to increase cryptocurrency access to the next 1 billion people by 2030. The company aims to expand access to the crypto economy and foster a healthy ecosystem of partners with reliable payment infrastructure.
MoonPay has attracted investments from over 60 celebrities and public figures, including Justin Bieber, Ashton Kutcher, Gwyneth Paltrow, Snoop Dogg, and Paris Hilton. These strategic investors collectively contributed \$87 million to the company's funding.
Yes, MoonPay prioritizes security and compliance to protect its customers. The platform uses AES-256 encryption and is PCI-DSS and ISO 27001 compliant. With more than 20 million accounts created worldwide, MoonPay is constantly improving its fiat-to-crypto on-ramp and cryptocurrency exchange features.
