MoonPay has secured a $200m “revolving credit facility” from Galaxy, a financial services firm specialising in cryptocurrency.
This enables the company to manage increased transaction volumes driven by current market trends and continue servicing its expanding customer base and address liquidity needs promptly.
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In 2024, MoonPay reported a 112% year-over-year increase in net revenue.
With this new credit facility, the crypto payments firm aims to capitalise on the cryptocurrency market and strengthen its position in the global digital economy, the release said.
MoonPay co-founder and CEO Ivan Soto-Wright said: “The recent surge in crypto demand has demonstrated the critical importance of robust and scalable infrastructure.
“This revolving credit line from Galaxy provides us with the financial flexibility to meet the increased demand and continue delivering an exceptional user experience. We are thrilled to partner with Galaxy, a recognised leader in the digital asset space, to support our continued growth and expansion.”
Galaxy founder and CEO Mike Novogratz stated: “Galaxy is excited to support MoonPay, reinforcing our commitment to driving growth and broadening access within the digital asset ecosystem. Initiatives like this are key to the continued expansion and maturity of the industry, and we look forward to our ongoing collaboration.”
This month, MoonPay acquired Iron, a platform focused on stablecoin infrastructure and APIs.
This acquisition is expected to enhance MoonPay’s business capabilities, including managing multi-currency treasuries, facilitating real-time cross-border payments, and exploring new revenue opportunities through yield-bearing assets.
In January this year, MoonPay also acquired Helio, a payment processor built on the Solana blockchain.
