MoonPay, a leading crypto payments infrastructure provider, has secured a $200 million revolving credit line from Galaxy, a diversified financial services and investment management firm in the digital asset sector. This marks one of the largest credit facilities of its kind in the crypto industry, positioning MoonPay to capitalize on growing transaction volumes and liquidity demands.
The credit line comes at a time of unprecedented momentum for the crypto industry, enabling MoonPay to ensure seamless service delivery and solidify its role in the global digital economy.
Mike Novogratz, founder and CEO of Galaxy, stated: “Galaxy is excited to support MoonPay, reinforcing our commitment to driving growth and broadening access within the digital asset ecosystem. Initiatives like this are key to the continued expansion and maturity of the industry, and we look forward to our ongoing collaboration.”
Ivan Soto-Wright, CEO of MoonPay, added: “The recent surge in crypto demand has demonstrated the critical importance of robust and scalable infrastructure. This revolving credit line from Galaxy provides us with the financial flexibility to meet the increased demand and continue delivering an exceptional user experience. We are thrilled to partner with Galaxy, a recognized leader in the digital asset space, to support our continued growth and expansion.”
Earlier this month, MoonPay announced its acquisition of Iron, an API-first stablecoin infrastructure platform. The acquisition enhances MoonPay’s enterprise offerings, enabling businesses to accept stablecoin payments and unlock instant, low-cost, and borderless transactions.