In what has been dubbed one of the largest of its kind in the crypto industry, MoonPay’s credit line with Galaxy comes at a time of unprecedented momentum for the crypto industry, ensuring the solution provider is in a position to capitalise and solidify its role in the global digital economy.
A $200 million revolving credit line from a diversified financial services and investment management innovator in the digital asset sector such as Galaxy allows MoonPay to prepare for increased transaction volume and liquidity demands, as well as ensure seamless service delivery to its user base.
Mike Novogratz, founder and CEO, Galaxy, says: “Galaxy is excited to support MoonPay, reinforcing our commitment to driving growth and broadening access within the digital asset ecosystem,” said “Initiatives like this are key to the continued expansion and maturity of the industry, and we look forward to our ongoing collaboration.”
Ivan Soto-Wright, CEO, MoonPay adds: “The recent surge in crypto demand has demonstrated the critical importance of robust and scalable infrastructure. This revolving credit line from Galaxy provides us with the financial flexibility to meet the increased demand and continue delivering an exceptional user experience. We are thrilled to partner with Galaxy, a recognised leader in the digital asset space, to support our continued growth and expansion.
This month, MoonPay announced its acquisition of Iron, an API-first stablecoin infrastructure platform in order to enterprise offerings, enabling businesses to accept stablecoin payments, unlocking instant, low-cost, and borderless transactions.