MoonPay has officially obtained a Money Transmitter License from the Wisconsin Department of Financial Institutions.
This authorization enables the company to broaden its services within the state, as stated in a recent announcement. Consequently, residents of Wisconsin can now utilize MoonPay Balance for fee-free deposits for purchases, aside from any ecosystem or network fees.
As the 20th most populated state in the U.S., Wisconsin has been showing a growing enthusiasm for cryptocurrency. Notably, it made headlines last year by becoming the first state government to acquire Bitcoin.
With Wisconsin’s inclusion, MoonPay now holds a total of 46 Money Transmitter Licenses, highlighting its ambition for regulatory approvals throughout the United States.
“This license solidifies our dedication to compliance and prioritizing consumer-oriented innovation,” said MoonPay co-founder and CEO Ivan Soto-Wright. “This achievement further cements our status as a fully regulated platform.”
Recent Developments from MoonPay
In its latest move, MoonPay has acquired Iron, a startup specializing in stablecoin infrastructure, with the aim of enhancing its enterprise payment solutions. This acquisition, the second significant one in just two months, is intended to facilitate instant, low-cost stablecoin transactions.
Additionally, in January, MoonPay purchased Helio for approximately $175 million to augment its crypto payment offerings. Helio, which has managed to process more than $1.5 billion in transactions over three years, will assist MoonPay in connecting traditional finance with decentralized finance.