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MoonPay has secured one of the toughest approvals in U.S. financial regulation, receiving New York’s Department of Financial Services (NYDFS) authorization for MoonPay Trust Company to begin offering digital asset custody and over-the-counter trading services in the state.
The approval converts MoonPay from a company offering simple on-ramps into one capable of holding client assets, handling institutional-level trades, and operating under rules used by some of the largest financial firms in digital assets.
New York Trust Charter Unlock Full Institutional Access
The authorization marks the second major license MoonPay has obtained from New York this year. In June, the firm received its BitLicense, which allowed it to operate directly with New York consumers but did not permit custody or large-volume trading.
The new Trust Charter closes that gap. It allows MoonPay to safeguard digital assets on behalf of customers and serve institutions that require a regulated fiduciary before they can move deeper into crypto.
Before the approval, MoonPay’s services in New York were limited. It could offer fiat-to-crypto purchases and handle payments, but could not store client funds or support institutional trading activity.
Its role in the state resembled that of many early-stage crypto payment companies, focusing on retail users while relying on external partners for the heavier institutional work.
How the Trust Charter Changes MoonPay’s Operations
The Trust Charter changes that, giving MoonPay a regulated pathway to store digital assets, manage them on behalf of clients, and facilitate high-volume OTC deals for financial institutions and enterprise customers.
This allows the company to compete for institutional clients that have long been constrained by custody rules. It also strengthens MoonPay’s standing across the U.S., giving it a fully regulated pathway to serve all 50 states directly.
The upgrade fits a wider pattern in the U.S. market. Over the past several years, firms that obtained the combined BitLicense and Trust Charter moved quickly into institutional services.
After receiving similar approvals, companies began offering custody products, rolling out OTC desks, expanding to new asset types, and building direct relationships with banks, brokers, and fintech firms that required stronger regulatory guarantees.
That progression has repeated itself over time, and MoonPay is now positioned at the same inflection point.
The firm already serves institutions internationally through licenses in the UK, Australia, Canada, Italy, Ireland, and Jersey, as well as authorization under the EU’s MiCA framework.
The Trust Charter formally completes its U.S. regulatory stack and gives it direct access to institutions in the country’s most closely monitored financial jurisdiction.
MoonPay Approval Caps a Year of Rapid Product Expansion and Strategic Acquisitions
The approval comes as MoonPay accelerates its expansion across payments and digital assets.
This year, the company introduced new products, completed acquisitions, and upgraded its infrastructure to build a full end-to-end stack.
MoonPay launched its enterprise stablecoin platform in November through an integration with M0, enabling the issuance and management of fully reserved digital dollars.
Additionally, it also rolled out MoonPay Commerce, a unified system for crypto payments across apps and online stores, and expanded its consumer offerings with MoonTags, which simplify transfers using personalized identifiers.
To strengthen U.S. banking links, MoonPay acquired Meso Network, following earlier purchases of Helio and Iron.
The company also secured new regulatory approvals, including a Money Transmitter License in Wisconsin.
The timing of the New York approval is a key moment for the broader market. Institutional interest in custody and OTC trading continues to rise, yet access remains uneven across the U.S.
Many states allow digital asset services, but New York remains the jurisdiction that institutions watch most closely due to its strict oversight and influence over banking partners.
For companies operating nationally, the ability to custody assets under the NYDFS framework often becomes a prerequisite for onboarding major financial clients.
MoonPay says the Trust Charter represents a step toward expanding its regulated infrastructure globally.
