NYSE Owner ICE in Discussions to Invest in MoonPay with Nearly $5 Billion Valuation

Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), is reportedly in talks to invest in the cryptocurrency payment company MoonPay. This investment round could value MoonPay at approximately $5 billion, which represents a significant increase in valuation since last month.

Key Takeaways

Investment Talks: ICE is negotiating to invest in MoonPay, potentially valuing the company at nearly $5 billion, up from $3.4 billion.
Expansion Strategy: ICE aims to enhance its digital asset portfolio through this investment, along with its existing crypto ventures.
Regulatory Advances: MoonPay is transitioning to a full-service digital asset custodian with a new regulatory charter, strengthening its competitive position.
Leadership Strengthening: Caroline Pham, former acting chair of the CFTC, is joining MoonPay as chief legal officer, signaling a stronger regulatory focus.

NYSE Owner ICE in Talks to Invest in MoonPay at Nearly $5 Billion Valuation

ICE’s Push into Digital Asset Investment

Intercontinental Exchange (ICE) is pursuing an investment in MoonPay, a crypto payment solutions provider, which could see the valuation rise to around $5 billion. This news comes from a recent report by Bloomberg and highlights a 47% increase from MoonPay's last valuation of $3.4 billion. This jump follows the company’s recent approval from the New York Department of Financial Services, allowing it to compete with giants like Coinbase and PayPal.

The investment underscores ICE’s ongoing strategy to expand into innovative financial technologies. The operator of the NYSE has already ventured into cryptocurrency with Bakkt, its proprietary platform, and invested $2 billion in Polymarket, a prediction market platform that gained popularity during the 2024 elections.

In addition, ICE has collaborated with Chainlink to deliver on-chain foreign exchange and precious metals data, further integrating its offerings into the digital asset ecosystem.

MoonPay is evolving beyond being a simple cryptocurrency on-ramp. It’s becoming a comprehensive digital asset custodian, capable of holding customer assets and executing trades for institutional clients. This shift is bolstered by the acquisition of a Limited Purpose Trust Charter, supplementing its existing BitLicense and enabling a broader range of custody and crypto services in New York.

MoonPay Welcomes CFTC Veteran

In a significant move, MoonPay has appointed Caroline Pham, the acting chair of the Commodity Futures Trading Commission (CFTC), as its chief legal officer. Pham’s transition follows her expected confirmation of Mike Selig as the permanent CFTC chair, which she expressed her enthusiasm for on social media, indicating a smooth changeover ahead.

Pham’s background in both finance and government includes leadership roles at Citigroup and efforts to promote innovative policies aligning with pro-crypto initiatives under President Trump. Her addition to MoonPay's team comes at a crucial time as the firm broadens its services. Recently, MoonPay partnered with digital asset platform Exodus to launch a US dollar-backed stablecoin, facilitating easier access for consumers to cryptocurrency transactions.

Establishing a Robust Regulatory Framework

Throughout this year, MoonPay has made strides to enhance its regulatory standing. In March, it obtained a Money Transmitter License from Wisconsin’s Department of Financial Institutions, strengthening its compliance capabilities across the United States.

Ivan Soto-Wright, MoonPay’s co-founder and CEO, highlighted the importance of this licensing step, asserting, “Earning our Wisconsin MTL strengthens our position in the market as a fully-regulated platform and reinforces our commitment to robust compliance.”

In addition, partnerships have played a key role in extending MoonPay's infrastructure beyond traditional crypto trading. Recently, it announced an exclusive collaboration with Rumble to create Rumble Wallet, allowing content creators to manage earnings and conduct trades in Bitcoin and other assets seamlessly.