Overview
- The New York State Department of Financial Services authorized MoonPay Trust Company as a Limited Purpose Trust Company, permitting digital asset custody and over-the-counter trading under state supervision.
- MoonPay now joins a small group holding both a BitLicense and a Trust Charter in New York, alongside Coinbase, PayPal, Ripple, and NYDIG.
- The approval gives MoonPay a fiduciary framework to safeguard client assets, a requirement for many banks and asset managers considering crypto exposure.
- MoonPay executives say custody and OTC products enabled by the charter are in development and not yet launched, with availability in other states dependent on completing required approvals.
- The charter provides a potential pathway to issue a New York‑compliant stablecoin, though any issuance would require separate NYDFS approval.