Cryptocurrency payments start-up Moonpay has raised $555 million at a valuation of $3.4 billion.
MoonPay was founded in 2019 by Ivan Soto-Wright and Victor Faramond.
The company provides infrastructure that allows users to exchange traditional fiat currencies and cryptocurrencies using payment methods such as debit and credit cards, Apple Pay, Google Pay, and Samsung Pay.
The all-equity Series A funding round was led by US investment firm Tiger Global and institutional investor Coatue.
Other participants in the round included Blossom Capital, Thrive Capital, Paradigm, and New Enterprise Associates.
Moonpay said the capital will be used to make new hires, expand its geographical coverage, and add additional payment methods.
The company said its platform supports over 90 cryptocurrencies and over 30 fiat currencies, and that it has facilitated transactions in over 90 cryptocurrencies and built a userbase of over 7 million.
The new comes after Winklevoss twin-founded crypto exchange Gemini raised $400 million at a valuation of $7.1 billion last week.
Bitcoin is currently trading at a valuation of $57,000.
Latest News
-
Visa launches protocol for agentic commerce
-
FCA boosts blockchain-based fund innovation with new plan
-
Walmart rolls out direct purchases in ChatGPT
-
Coinbase invests in cryptocurrency exchange CoinDCX
-
Monzo launches digital tax filing tool for sole traders and landlords
-
Revolut’s UK banking licence faces scrutiny over global risk controls
Data trust in the AI era: Building customer confidence through responsible banking
In the second episode of FStech’s three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech examines the critical relationship between data trust, transparency, and responsible AI implementation in financial services.
Banking's GenAI evolution: Beyond the hype, building the future
In the first episode of a three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech explores how financial institutions can navigate the transformative potential of Generative AI while building lasting foundations for innovation.
Beyond compliance: Building unshakeable operational resilience in financial services
In today's rapidly evolving financial landscape, operational resilience has become a critical focus for institutions worldwide. As regulatory requirements grow more complex and cyber threats, particularly ransomware, become increasingly sophisticated, financial services providers must adapt and strengthen their defences. The intersection of compliance, technology, and security presents both challenges and opportunities.
Unleashing generative AI: A force multiplier for financial crime teams
This FStech webinar, sponsored by NICE Actimize sees industry experts examine the revolutionary impact of generative AI on financial crime operations, and provides actionable insights to enhance your compliance strategies.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories