MoonPay is a crypto exchange that processes fiat accounts and holds reserve funds used to facilitate large token transactions. It supported the surprise Jan. 18 launch of the TRUMP memecoin, which grew from roughly $200 million market cap at issuance to over $10 billion within 48 hours and generated over $20 billion in trading volume across two days. Because the launch occurred on a Saturday followed by a public holiday, MoonPay’s fiat accounts were inaccessible and the company could not access more than $100 million in liquidity held in reserve. MoonPay’s president Keith Grossman, CEO Ivan Soto‑Wright, and CFO Mouna Siala sought short‑term loans to obtain roughly $100 million in USDC and then a further $60 million as demand escalated. Loans totaling $160 million were provided by Galaxy’s Mike Novogratz and Ripple’s Brad Garlinghouse after vetting that included a BlackRock executive review and a pledge of CEO Soto‑Wright’s personal assets; MoonPay repaid all loans in full on Jan. 21. The company onboarded 750,000 new users that week, and the TRUMP token’s price slipped 79% from its Jan. 19 peak. MoonPay provides fiat-to-crypto on-ramps and a suite of payments infrastructure products including KYC, payment processing, crypto liquidity and delivery, fraud prevention, regulatory licenses, identity verification, and custom checkout flows. Its platform supports all major payment methods (cards, local bank transfers, Apple Pay, Google Pay, Samsung Pay) and powers over 250 wallets, websites, and applications in more than 160 countries. The company has processed more than $2 billion in transactions, built a customer base of more than 7 million users, and facilitates over 30 fiat currencies and 90 cryptocurrencies. MoonPay also offers an NFT solution used by marketplaces and creators to simplify buying and selling digital assets. The business is bootstrapped and profitable and says it has consistently achieved more than 30% monthly revenue growth and 35x growth in transaction volume since launch. MoonPay plans to use new capital to accelerate its global footprint, further invest in its team, and underwrite additional innovations in the crypto economy.

Total raised

$715M

Funding rounds

2

Latest round

Debt Financing

Latest activity

Feb 2025