MoonPay, the global leader in crypto payments, announced that it has appointed Derek Yu as Treasurer. Yu brings a decade of audit and treasury expertise to the company, most recently serving as Treasurer of leading regulated blockchain infrastructure and tokenization platform, Paxos.
During his tenure at Paxos, Yu contributed to the launch of various stablecoins across the U.S., Singapore, and UAE. Notably, he played a key role in the management, oversight, and eventual orderly winddown of Binance USD (BUSD), the third largest US-dollar backed stablecoin in the market.
Yu also supported Paxos through two successful venture funding rounds and helped secure preliminary conditional approval from the Office of the Comptroller of the Currency for a national trust bank charter. He is a licensed Certified Public Accountant in the State of New York.
At MoonPay, Yu will oversee cash, liquidity and stablecoin management, banking and payment relationships, treasury operations, and both crypto and fiat asset management, among other responsibilities. A key focus will be monitoring market trends and optimizing treasury allocations between fiat, stablecoins and cryptocurrencies to ensure liquidity and maximize yield.
“As a leader in the DeFi ecosystem, MoonPay already manages billions in stablecoin volume, and hiring a seasoned expert to lead our Treasury operations is critical for our future endeavors,” said Ivan Soto-Wright, co-founder and CEO of MoonPay. “We’re thrilled to welcome Derek as we continue expanding our in-house expertise to manage a tokenized treasury.”
Yu’s appointment arrives at a time of unprecedented growth at MoonPay. In October 2024, MoonPay was selected as an inaugural distribution partner of Ripple USD (RLUSD), Ripple’s enterprise-grade, USD-denominated stablecoin. That same month, the company announced support for PayPal USD (PYUSD), PayPal’s USD-denominated stablecoin, and expressed the need for a competitive stablecoin market.
In January 2025 alone, the company onboarded over 1,000,000 new crypto users and experienced a 1,023% increase in first-time on-chain transactions as the official on-ramp of the $TRUMP token.