← Embedded Finance Index 2026

Moonpay

Also a provider — view Moonpay’s profile →

Can MoonPay expand from a consumer crypto on-ramp into the full-stack payments and infrastructure layer that banks, fintechs, and crypto platforms use to move money between fiat and digital assets globally?

Founded2019
HQDover, Delaware, United States
Total raised$1.3B
Latest roundDebt Financing, 2025
IndustryFintech / Crypto
The story

Founded in 2019 as a consumer crypto on-ramp, MoonPay's core business was enabling fiat-to-crypto purchases for retail users through a simple widget embedded by crypto wallets and platforms. From 2022 onward, MoonPay shifted focus toward becoming a B2B payments infrastructure provider for the crypto economy, expanding into white-label embedded balance solutions, virtual accounts, and stablecoin infrastructure via the acquisition of Iron. In 2025–2026, with the acquisition of Decent and launch of MoonPay Trade, MoonPay pivoted again from a pure on-ramp into a full institutional crypto infrastructure layer, covering DeFi, tokenized assets, and 200+ blockchains for banks, fintechs, and asset managers.

Last 12 months
2025-03
2026-04
2026-05
2026-05
2026-05
2026-08
Product timeline
2019
MoonPay founded as a crypto on-ramp enabling fiat-to-crypto purchases for consumers.· pivot
2022
Raised significant funding round, expanding B2B infrastructure and partner ecosystem.· banking
2024
Acquired Iron, an enterprise-grade API-first stablecoin infrastructure platform.· acquisition
2025
Secured $200M revolving credit facility from Galaxy to manage liquidity and growing demand.· banking
2025
Launched Virtual Accounts powered by Iron in New York State for enterprise fintechs and crypto platforms.· banking
2025
Acquired Decent (Y Combinator-backed), a multi-chain crypto infrastructure company.· acquisition
2026
Launched MoonPay Trade for institutional DeFi and tokenized asset access across 200+ blockchains.· pivot
2026
Launched the first crypto on-ramp inside ChatGPT via OpenAI's ChatGPT Apps experience.· pivot
Regulated entities
3
regulatory licences held by Moonpay
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
5 layers disclosed in Moonpay’s embedded-finance stack
Payments / PSP
Checkout.comMoonPay Payments (self-operated)
Money movement
in the full report
Banking / BaaS
in the full report
Lending
in the full report
Crypto
in the full report
Accounting gap: minor
5 more providers across 4 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.