MoonPay has secured a $200 million credit line from Galaxy to support transaction growth and global expansion.
Credit Line from Galaxy
MoonPay has secured a $200 million revolving credit line from Galaxy, a major digital asset financial services firm. This funding will provide MoonPay with liquidity to handle rising transaction volumes and support its global growth.
Reasons for Financing
The surge in crypto activity has heightened the need for scalable payment infrastructure. MoonPay's latest funding move is aimed at ensuring seamless service delivery. CEO Ivan Soto-Wright emphasized the importance of financial flexibility in addressing increased demand.
Impact on MoonPay's Future
The credit line comes at a pivotal time for MoonPay, which ended 2024 on a strong note, achieving cash-flow positivity and 112% year-over-year net revenue growth. The company has positioned itself as a key player in the crypto payments sector, facilitating seamless transactions for users globally. With this funding, MoonPay is well-positioned to capitalize on the growing adoption of digital assets and strengthen its role in the evolving global crypto economy.
The credit line from Galaxy will serve as a crucial step for MoonPay in further supporting its growth and development on a global scale.
