MoonPay Secures Jersey VASP Registration, Expands Crypto Services

MoonPay, a leading cryptocurrency company, has successfully obtained registration as a Virtual Asset Service Provider (VASP) in Jersey, the largest of the Channel Islands. This achievement, endorsed by the Jersey Financial Services Commission (JFSC), enables MoonPay to provide a variety of crypto services, including on-ramp, off-ramp, and swap functionalities, within the jurisdiction. Jersey's strategic location and regulatory environment offer MoonPay a solid foundation to extend its operations and attract a wider user base.

The registration in Jersey is the latest addition to MoonPay's expanding list of authorized territories, which already includes the UK, Australia, Canada, Italy, Ireland, and the Netherlands under the Markets in Crypto-Assets (MiCA) regulation, as well as several U.S. states. This expansion demonstrates MoonPay's commitment to regulatory compliance and its efforts to increase global access to cryptocurrency. Ivan Soto-Wright, CEO of MoonPay, emphasized the company's dedication to collaborating with regulatory bodies to bring its crypto solutions to a broader audience worldwide.

Jersey has been proactive in crypto regulation since 2014, when the JFSC approved the world's first regulated Bitcoin investment fund. The island's regulatory framework provides clarity for firms operating in the digital asset space, ensuring compliance with anti-money laundering and customer protection requirements. VASP registration is a significant achievement for MoonPay, as it confirms the company's adherence to these critical criteria, essential for operating in regulated jurisdictions.

MoonPay's entry into Jersey not only enhances its ability to serve users in Europe but also positions the company to access the broader international market under a compliant framework. This move aligns with MoonPay's broader strategy to integrate advanced technologies and expand its capabilities in the decentralized finance (DeFi) space. Earlier this year, MoonPay acquired Helio, a Solana-based payment processor, for approximately $175 million. This acquisition allowed MoonPay to integrate Helio’s technology, further enhancing its DeFi capabilities and processing over $1.5 billion in transactions in three years.