Crypto continues to stake its declare within the monetary capital of the world.
MoonPay, the worldwide chief in crypto funds, is opening a brand new 5,000-plus square-foot U.S. headquarters in SoHo, NYNext can solely report. With the transfer, the corporate turns into the most recent digital forex agency to increase its presence in NYC.
“As the crypto landscape continues to evolve, New York stands out as a beacon of opportunity that blends regulatory progress, a dynamic business environment and an unparalleled talent pool,” Keith A. Grossman, President of Enterprise at MoonPay and a lifelong New Yorker, informed NY Subsequent.
The confluence of these components — additional emboldened by President Trump’s deregulation efforts — implies that much more digital asset firms are prone to set down roots within the metropolis within the coming months and years.
“The crypto industry is playing a pivotal role in driving New York City’s economic growth — serving as an engine for job creation, accelerating innovation, and attracting investment,” Grossman stated. “With over 130 crypto firms operating in the city, New York is further cemented as a global financial capital and a leading hub for fintech transformation.”
It’s a marked shift from a decade in the past.
Crypto corporations vehemently averted New York after BitLicense — which imposed strict laws on companies’ skills to purchase, promote, transmit and retailer crypto — went into impact in 2015.
Whereas the licenses had been meant to guard shoppers, many corporations noticed the framework as overly burdensome and headed to extra hospitable cities. When MoonPay launched in 2019, its founders opted to base the corporate in Miami.
The tides in New York started to shift across the flip of the last decade. Mayor Eric Adams, elected in 2021, has brazenly embraced crypto,saying he wished to make NYC the “center of bitcoins.”
Although the BitLicense framework stays agency, his administration has centered the dialog on innovation and financial alternative, somewhat than compliance and shopper safety.
Consequently, prior to now a number of years, main corporations together with Coinbase, Gemini, Consensys, and Chainalysis have entered or expanded their New York Metropolis footprints.
“It’s an ideal hub for companies like MoonPay to scale and help shape the future of crypto innovation in the U.S,” Grossman stated.
Earlier this 12 months, MoonPay CEO Ivan Soto-Wright joined executives from Coinbase, Ripple, and Circle on the Commodity Futures Buying and selling Fee’s Crypto CEO Discussion board in Washington, DC, to hash out the subsequent chapter of federal crypto oversight.
Then, in mid-April, Soto-Wright penned a letter to Congress supporting amendments to the STABLE and GENIUS Acts, backing state-level regulation for stablecoin issuers and warning towards laws that would sideline native innovators.
Crypto markets have soared throughout Donald Trump’s first months in workplace.
This story is a part of NYNext, an indispensable insider perception into the improvements, moonshots and political chess strikes that matter most to NYC’s energy gamers (and those that aspire to be).
After having its greatest 12 months ever in 2024, MoonPay noticed its transaction quantity improve 123% and internet income leap almost 50% within the first quarter of 2025.
Grossman informed NY Subsequent, “We couldn’t be extra thrilled to determine our U.S. headquarters on this nice metropolis as our nation continues to determine extra readability surrounding regulatory, legislative, banking and accounting exercise inside the crypto ecosystem.
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