MoonPay Obtains License for Cash Switch Companies in Texas

Fintech firm MoonPay has obtained a cash transmitter license from the Texas Division of Banking.

The transfer permits MoonPay to supply cash switch providers in Texas.

Now, Texans should purchase 64 completely different cryptocurrencies via MoonPay utilizing fee platforms Venmo and PayPal.

Texas is taken into account the second most populous state in america and a booming heart for Bitcoin mining.

greater than a fifth of voting-age Texans already personal crypto.

MoonPay has outlined plans to increase its choices in Texas by 2025, which is able to embody the flexibility for residents to promote cryptocurrencies comparable to Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).

Earlier in 2024, MoonPay built-in Venmo and PayPal (Venmo’s mum or dad firm), as a part of its fee choices.

The corporate has obtained a complete of 45 cash transmitter licenses, permitting MoonPay to function throughout america.

MoonPay co-founder and CEO Ivan Soto-Wright stated: “MoonPay is dedicated to prioritizing compliance and client safety as we increase crypto accessibility in Texas and past. past. We stay up for persevering with our shut work with regulators to convey our crypto options to extra customers around the globe.

MoonPay’s infrastructure is designed to bridge the hole between fiat currencies and cryptocurrencies.

It helps conversions utilizing fee strategies together with debit and bank cards, native financial institution transfers, in addition to Apple Pay and Google Pay.

The corporate operates in additional than 160 international locations and has partnerships with greater than 300 main wallets, web sites and apps, based on the web site.

“MoonPay Obtains License for Cash Switch Companies in Texas” was initially created and printed by International electronic paymentsa model owned by GlobalData.

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