MoonPay Deposits: Automated Cross-Chain Funding, No More Manual Hassles
Crypto payments firm MoonPay has launched a new product called MoonPay Deposits, aiming to simplify wallet-to-wallet crypto transfers by automatically handling swaps, bridging, and cross-chain routing behind the scenes. Instead of manually ensuring the correct asset and network are selected, users can send supported crypto from an existing wallet and receive the final balance in their chosen asset on the destination wallet.
“Users shouldn’t have to buy new assets or navigate complex steps just to fund an account,” said Ivan Soto-Wright, CEO and co-founder of MoonPay. He emphasized that the product reduces friction by letting people use the crypto they already own. The service operates entirely on MoonPay’s infrastructure and integrates natively into partner environments, supporting deposits from detection through final asset delivery.
MoonPay Deposits is now available in the self-custodial TON Wallet, part of Telegram’s dual-wallet setup, giving more than 100 million users a new way to move funds into the Telegram-based ecosystem. Previously, users were required to hold assets on the TON blockchain before funding a TON Wallet account. Now, users can send Bitcoin and other assets from external networks, with MoonPay automatically converting them into TON or other supported tokens.
Integration with Telegram’s TON Wallet: Lowering the Entry Barrier
Andrew Rogozov, founder and CEO of The Open Platform and Wallet in Telegram, said the goal is to make entering and exiting the TON ecosystem as seamless as using a custodial wallet while maintaining self-custody. The user flow is straightforward: access MoonPay Deposits via TON Wallet, select the token and network to send from, transfer funds to a generated address, and MoonPay handles routing and credits the user in the correct asset.
This integration eliminates the need for users to navigate multiple exchanges or manual bridges, significantly reducing the time and complexity of cross-chain transactions. As Telegram’s user base continues to grow, MoonPay’s solution positions itself as a key infrastructure provider for the crypto messaging ecosystem.
Intercontinental Exchange Eyes Investment in MoonPay, Valuation Could Hit $5 Billion
Two months ago, Intercontinental Exchange (ICE), owner of the New York Stock Exchange, entered talks to invest in MoonPay. The potential funding round was expected to value MoonPay at around $5 billion, up from its previous $3.4 billion valuation. The company has recently strengthened its regulatory standing by securing a Limited Purpose Trust Charter from the New York Department of Financial Services (NYDFS), supplementing its existing BitLicense.
In a notable personnel move, MoonPay announced that CFTC Acting Chair Caroline Pham would join as Chief Legal and Administrative Officer. These developments signal MoonPay’s commitment to regulatory compliance and institutional growth, positioning the company for broader adoption in both retail and institutional crypto markets.