MoonPay is positioned as a fiat-to-crypto and crypto-to-fiat access provider rather than a bank, exchange, or wallet. Users can buy digital assets with PayPal, credit cards, debit cards, and local bank transfers, while the service supports multiple fiat currencies and is available in more than 160 countries.
From crypto purchases to NFT checkout tools
The company started by offering a simple way to convert fiat into crypto. It later expanded into NFT purchases with fiat and launched a no-code platform for creators and brands that want to start NFT projects. Developers can embed a MoonPay widget inside their apps or connect through its API. According to the source article, MoonPay’s network reaches more than 5 million consumers across wallets, dApps, and partner exchanges.
Its services are not limited to retail users. The article describes MoonPay as payment infrastructure for crypto businesses as well, helping apps and websites add crypto payment functions. In January 2022, the company launched NFT Checkout, now called MoonPay Checkout. The product supports Visa, Mastercard, and American Express, works with platforms such as OpenSea, and handles the purchase flow, KYC, payments, and fraud prevention.
Founders, headquarters, and ownership
MoonPay was founded in 2019 by Ivan Soto-Wright and Victor Faramond, with headquarters in Miami, Florida. Ivan Soto-Wright serves as CEO and Victor Faramond is listed as Chief Engineer. The company’s president is Asiff Hirji, whose prior roles included leadership positions at Figure and Coinbase.
The article says MoonPay is privately owned by its co-founders. It also notes that the company raised venture capital from investors including Coatue and Tiger Global, and that its Series A round in November 2021 valued the business at $3.4 billion.
ID checks and account verification
MoonPay requires identity verification as part of its KYC process when users buy or sell crypto. Accepted documents include a driver’s license, national ID card, or passport, although the article specifies that U.S. customers cannot use a passport. The process may also ask for a selfie or a 3D liveness check to confirm that the person using the document is the actual account holder.
Beyond ID, the platform may request proof of address and, in some cases, documents showing the source of funds. The source also mentions a tiered account limit system shaped by verification status, purchase history, location, and payment method, though it says current details were not available at the time.
Why MoonPay is described as non-custodial
The article classifies MoonPay as a non-custodial platform, meaning it does not hold customer funds the way a bank or wallet provider would. Its role is closer to a transaction layer between traditional payment rails and crypto purchases. It does not offer crypto trading pairs, and it does not store users’ digital assets.
That distinction separates MoonPay from an exchange. The service is built around payment access and settlement connectivity rather than order matching. Its integrations can sit inside wallets, dApps, or partner trading platforms.
Security controls and fee transparency
On security, the article says MoonPay uses AES-256 encryption and TLS to protect data in transit. It also points to KYC checks as part of fraud prevention and regulatory compliance. The company runs a bug bounty program as well, paying researchers who identify vulnerabilities so defenses can be improved over time.
The source adds that MoonPay presents transaction fee information clearly before purchases. Examples of supported assets listed in the article include BTC, DAI, BNB, ETH, NANO, LTC, XTZ, ZEC, and ZIL. Taken together, MoonPay’s main function is payment access, compliance handling, and integration tooling rather than custody or exchange matching.