MoonPay Raises $86.7 Billion at $3.4 Billion Valuation

MoonPay is a start-up that allows its clients to buy and sell cryptocurrencies with the help of conventional payment methods such as bank transfers, credit cards, and mobile wallets. The main company’s focus is on providing infrastructure to crypto and organizing crypto-to-fiat transactions for fiat currencies and cryptocurrencies. MoonPay also sells its technology to different businesses:, OpenSea, etc.

The recent funding round was marked by the participation of a list of celebrities. Among them are Justin Bieber, Jason Derulo, Bruce Willis, Paris Hilton, Gwyneth Paltrow, and Matthew McConaughey. With the money raised, the company becomes closer to its aim to become a PayPal of cryptocurrency.

MoonPay, the USA, was founded in April 2019 by Ivan Soto-Wright and Victor Faramond. The company is most famous for its concierge service by streamlining the process of buying an NFT ape. Since NFTs are the new way for artists and musicians to create revenue streams through digital assets, MoonPay targets VC firms focusing on the creator economy. “I realized that the creator economy was going to be a really important part of our business, especially with NFTs,” Ivan Soto-Wright, CEO.  As of now, 10 million customers made in total $3 billion-worth transactions. Besides being a partner with Coinbase, OpenSea, FTX, and MetaMask, MoonPay works with over 260 service providers.

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