Friday, November 8, 2024

Crypto Payment Processor MoonPay Plans To Expand On the NFT Fast Track!

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In recent months, the Crypto payment processor MoonPay and its CEO Ivan Soto-Wright have come to our attention as aggressive crypto payment players fully embracing NFTs. Not necessarily a wrong strategy. However, we found the company as a facilitator of several scams. This can happen as well. The CyberFinance rating agency PayRate42 has put MoonPay on the Orange compliance list. Most recently, MoonPay has made headlines as a partner of renowned companies such as Universal Studios in the NFT environment. Here is a short introduction.

Key Data

Trading nameMoonPay
Related brandsHypermint
Business activityCrypto payment processor
Registered money service business
Domainswww.moonpay.com
https://hypermint.com
Legal entitiesEighteenth September Limited, Seychelles
Moon Pay PTE Limited, Singapore
MoonPay Technology Services Limited, Ireland
MoonPay USA LLC, Delaware
MOONPAY (UK) LIMITED
JurisdictionsUnited Kingdom, Ireland, Seychelles
RegulationRegulated money service business
Related individualsIvan Soto-Wright (LinkedIn profile)
Victor Faramond (LinkedIn)
Max Crown (LinkedIn)
Adrian Pang (LinkedIn)
PayRate42 listingMoonPay profile on PayRate42

Short Narrative

Besides its own platform, MoonPay operates Hypermint, a platform through which you can easily create and manage NFTs.

A few days ago, Moonpay announced it would launch an NFT project with Universal Studios. However, this announcement which was picked up by some other media, is offline again with a 404 error message. Read the news here on Fortune Crypto.

For me this is the next wave, 100%. I mean, I think this is a natural progression

MoonPay CEO Ivan Soto-Wrigght about NFTs
MoonPay CEO Ivan Soto-Wright

According to the information provided on the MoonPay website, the crypto scheme is operated by legal entities across different regulatory regimes. In the US, MoonPay USA LLC is registered as a money service business (NMLS ID: 2071245). The US resident Ivan Soto-Wright, the company’s co-founder and CEO, is also the founder and general partner of the New York-based venture capital firm and incubator HODL.vc. His co-founder is Victor Faramond, who resides in London like the other directors.

In Nov 2021, Moonpay announced it had closed a $555 million Series A financing round at a $3.4 billion valuation. The round was led by Tiger Global Management and Coatue with participation from Blossom Capital, Thrive Capital, Paradigm, and NEA.

Great Customer Feedback

According to the company, it is active in more than 160 countries. Its technology is used by 250+ leading wallets, websites, and applications to accept payments and defeat fraud.

On Trustpilot, the company earned an “Excellent” trust level with a 4.1-star rating based on almost 60,000 reviews. This is impressive.