MoonPay Gains NYDFS Trust Charter for Digital Asset Custody

Published: 2025-11-25 20:29:50 |

MoonPay has secured a limited-purpose trust charter and BitLicense approval from the New York State Department of Financial Services (NYDFS). The trust charter authorizes digital asset custody, over-the-counter (OTC) trading and institutional services. Having held a BitLicense since June, MoonPay now joins Coinbase and Ripple Labs (XRP) under NYDFS oversight. The approval, under the recently passed GENIUS Act, paves the way for a stablecoin initiative and partnerships with global banks. This regulatory clarity boosts institutional confidence and strengthens MoonPay’s position for U.S. market expansion.

Neutral

The approval of a NYDFS trust charter for MoonPay marks a significant regulatory achievement for the crypto service provider. While this boosts institutional confidence and broadens digital asset custody offerings, the direct impact on XRP trading is limited. In the short term, the market is likely to view this development as a neutral signal for XRP price movement. Over the long term, expanded custody services under NYDFS oversight could support broader adoption of XRP, but the effect remains indirect.