Overview
- NYDFS authorized MoonPay Trust Company, LLC to operate as a New York Limited Purpose Trust Company and begin serving customers.
- The charter permits digital-asset custody and over-the-counter trading under New York’s regulatory framework.
- CoinDesk reports the status places MoonPay among firms such as Coinbase, PayPal and Ripple that hold both a BitLicense and a trust charter.
- The trust structure enables MoonPay to act as a fiduciary for client assets, which is critical for banks and asset managers considering crypto services.
- MoonPay says the approval could support a compliant route to issue a stablecoin in the future, with any new services requiring separate NYDFS approval.