44. MoonPay (2024)

Founder: Ivan Soto-Wright (CEO), Victor Faramond
Launched:2018
Headquarters:Miami
Funding:
$555 million
Valuation: $3.4 billion
Key technologies:
Blockchain, decentralized finance (DeFi), Internet of Things
Industry:
Fintech
Previous appearances on Disruptor 50 List: 0

Persephone Kavallines

Founded in 2018, Miami-based MoonPay's software lets users buy and sell cryptocurrencies using conventional payment methods like credit cards, bank transfers, or mobile wallets likeApplePay andGooglePay. It also sells its technology to other businesses including crypto website Bitcoin.com andnon-fungible token marketplace OpenSea, a model CEO Ivan Soto-Wright calls "crypto-as-a-service."

Soto-Wright said the firm aims to make crypto accessible to the masses in the same way that video-conferencing tools likeZoommade it easier to make calls over the internet.

MoonPay's pitch to investors is that it offers a "gateway" to digital assets. For now, that includes bitcoin,etherand other digital tokens like NFTs. The recent market volatility and risk-off investor environment hasn't been kind to crypto trading, but Soto-Wright's vision is to expand the platform to include everything from digital fashion to tokenized stocks.

The company says it has been profitable since launching its platform in 2019. Its service is now used by more than 10 million customers in 160 countries. Last month, MoonPay added more than 60 celebrity investors to its balance sheet, including Justin Bieber, Gwyneth Paltrow, Snoop Dogg and Ashton Kutcher, among others. Combined, its new investors poured$87 million into apreviously announced$555 million funding round led by Tiger Global and Coatue, valuing the company at $3.4 billion.

Looking ahead, MoonPay plans to spend the money raised on new products and expansion. Soto-Wright says the firm already has ambitions to take the business public. "We have aspirations eventually to be a public company," he previously told CNBC.

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44. MoonPay (2024)

FAQs

Is MoonPay legitimate? ›

MoonPay is a safe crypto payment solution. According to its website, all data is encrypted in transit using AES-256 block-level storage encryption. The company also has a bug bounty program that rewards people for discovering weaknesses in MoonPay's security to help them make improvements.

What is MoonPay on my bank account? ›

MoonPay is a financial technology company that builds payment infrastructure for crypto.

Is MoonPay sketchy? ›

Is it safe to use MoonPay to buy and sell crypto? Keeping our customers safe is a top priority at MoonPay. We use strong security measures for your personal details and transactions and have satisfied over 30,000 TrustPilot customers and 250+ cryptocurrency services who trust our services.

What is MoonPay used for? ›

It's an on- and off-ramp service that enables customers to buy cryptocurrency assets using a whole range of traditional payment methods. With its user-friendly interface, an abundance of payment options, and commitment to security, MoonPay has quickly become a go-to payment service in the crypto world.

Is MoonPay legal in the US? ›

MoonPay USA LLC is licensed by the Nevada Department of Business and Industry as a money transmitter.

Is MoonPay safe from hackers? ›

All MoonPay data is encrypted at rest using AES-256 block-level storage encryption and stored in ISO27001 and PCI DSS compliant datacenters. All MoonPay data is encrypted at rest using AES-256 block-level storage encryption and stored in ISO27001 and PCI DSS compliant datacenters.

What is the MoonPay controversy? ›

In an update to an ongoing class action lawsuit alleging crypto payments firm MoonPay conspired with Bored Ape Yacht Club creator Yuga Labs and several celebrities to inflate the value of NFTs, the complaint has been amended to include the account of a confidential witness.

Is it safe to give MoonPay my social security number? ›

MoonPay will never sell or rent your personal information to third parties without your explicit consent. We will only share your personal information with the following types of third parties: Identity verification services to prevent fraud.

Can I withdraw money from MoonPay? ›

MoonPay supports payouts to local bank accounts, and now credit/debit cards in 80+ countries for "push to card" sell transactions. Sell crypto like Bitcoin in large or small amounts.

How to spot a Bitcoin scammer? ›

How Can You Tell If Someone Is a Crypto Scammer? Legitimate businesses will not correspond with you via social networks or text messages. They also will not ask you for your private keys to help you with an action.

Can I get my money back from MoonPay? ›

We cannot refund or assist you if you sent your cryptocurrency to the wrong wallet. We cannot control your wallets or the addresses you use to send cryptocurrency. If you accidentally sent your cryptocurrency to our provider's wallet, you can ask for help. To get help, send a support request.

What websites use MoonPay? ›

Where can I use MoonPay?
WalletExchangesWebsites
Bitcoin WalletBinance DEXBitcoin.org
Trust WalletBequantBitcoin.com
ZenGoBithumbChangelly

Should I trust MoonPay? ›

Their customers' service is aweful and not willing to provide any help. I also need to add that the transaction fees with MoonPay is one of the most expensive one in this market. They rip you off. I highly recommend that nobody should trust MoonPay.

Is MoonPay a US company? ›

MoonPay is a multinational financial technology company involved in the transfer of cryptocurrency. Founded by Ivan Soto-Wright and Victor Faramond in 2019, the company is based in Miami and provides payment infrastructure for cryptocurrency and non-fungible tokens (NFTs) to be bought and sold with fiat currencies.

How do you convert crypto to cash? ›

Here are five ways you can cash out your crypto or Bitcoin.
  1. Use an exchange to sell crypto.
  2. Use your broker to sell crypto.
  3. Go with a peer-to-peer trade.
  4. Cash out at a Bitcoin ATM.
  5. Trade one crypto for another and then cash out.
  6. Bottom line.
Feb 9, 2024

Is it safe to give SSN to MoonPay? ›

MoonPay will never sell or rent your personal information to third parties without your explicit consent. We will only share your personal information with the following types of third parties: Identity verification services to prevent fraud.

Is MoonPay a US based company? ›

Mintpay is headquartered in Colombo, Sri Lanka.

Does MoonPay refund money? ›

What can I do? We cannot refund or assist you if you sent your cryptocurrency to the wrong wallet. We cannot control your wallets or the addresses you use to send cryptocurrency. If you accidentally sent your cryptocurrency to our provider's wallet, you can ask for help.

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