MoonPay has successfully secured a $200 million revolving credit line from Galaxy, a prominent player in the digital asset financial services sector, as the cryptocurrency market gains renewed energy.
This funding will provide MoonPay with the liquidity needed to manage increasing transaction volumes and fuel its international expansion, according to a statement shared with observers in the crypto community.
The uptick in cryptocurrency transactions underscores the necessity for scalable payment systems, and MoonPay’s latest financing initiative aims to ensure smooth service delivery.
CEO Ivan Soto-Wright highlighted the significance of financial flexibility in meeting heightened demand.
“The recent increase in crypto interest has highlighted the urgent need for strong and adaptable infrastructure,” he remarked. “This revolving credit line from Galaxy enables us to accommodate rising demand while guaranteeing an outstanding user experience.”
The credit facility emerges at a crucial moment for MoonPay, which finished 2024 on a positive trajectory, achieving cash-flow positivity and a remarkable 112% growth in net revenue year-over-year.
The firm has established itself as a vital contributor to the crypto payment landscape, facilitating effortless transactions for users worldwide.
With this investment, MoonPay is strategically positioned to take advantage of the growing acceptance of digital currencies and reinforce its place within the evolving global crypto landscape.