Crypto Payment Platform, MoonPay Raises $555 Million To Hit $3.4 Billion Valuation

Leading cryptocurrency payment platform, MoonPay has successfully raised over half a billion dollars in its Series of A funding round. ayokinews.com reports

The funding round was led by some big names in the business space like Thrive Capital and NEA. The investment boosted the company’s valuation significantly, moving its current value to a whopping $3.4 billion.

Since the launch of MoonPay two years ago, the fintech platform has processed a net of $2 billion worth of transactions from its 7 million users around the globe. The company’s services have proven to be useful in many different countries. At the moment, MoonPay has users in more than 160 different countries and the company is still working hard to expand.

MoonPay’s Roadmap:

Speaking on the plans for the organization in the next ten years, Ivan Soto-Wright, the CEO of MoonPay said; “We are on a mission to help billions of people access trillions of dollars of digital value over the next decade”.

MoonPay has served as a reliable fiat to crypto on-ramp since 2019. It currently supports 30 fiat currencies and 90 cryptocurrencies, with more crypto and fiat currencies expected to be added soon. The platform has also been utilized by some popular crypto exchanges like Bitcoin.com, Okex Exchange, and hundreds of other crypto applications.

More recently, MoonPay has supported the buying and selling of non-fungible tokens (NFTs). Earlier this month, famous rapper Post Malone made an NFT purchase utilizing MoonPay. Malone spent a total of 160 ETH to purchase two Bored Ape Yacht Club NFTs. He brought this to the limelight in his music video that featured Canadian singer, ‘The Weeknd’. 

Significant Achievements of MoonPay:

In less than three years, the platform has built a follower base of over 7 million individuals. More so, MoonPay has seen a 3500% growth in transaction volume in just two and half years. It has also grown its partner ecosystem by more than 5x. It is also endorsed and utilized by more than 250 different websites to accept payments and limit fraudulent transactions.

With the explosive growth the company has had in the past few years, users of the platform are optimistic about what next MoonPay has in store.

Source: https://cointelegraph.com/news/crypto-startup-moonpay-raises-555m-to-hit-3-4b-valuation

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