Breaking News
MoonPay Secures $200M Revolving Credit Line from Galaxy Amidst Surging Crypto Market Activity
MoonPay, the leading global crypto payments company, announced it has secured a $200M revolving credit line from Galaxy, a diversified financial services and investment management innovator in the digital asset, cryptocurrency, and blockchain technology sectors.
Access to this strategic capital positions MoonPay to effectively prepare for increased transaction volume and liquidity demands driven by the current surge in cryptocurrency market activity and ensure seamless service delivery to its growing global user base.
“The recent surge in crypto demand has demonstrated the critical importance of robust and scalable infrastructure,” said Ivan Soto-Wright, CEO at MoonPay. “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 recognized leader in the digital asset space, to support our continued growth and expansion.”
“Galaxy is excited to support MoonPay, reinforcing our commitment to driving growth and broadening access within the digital asset ecosystem,” said Mike Novogratz, Founder and CEO at Galaxy. “Initiatives like this are key to the continued expansion and maturity of the industry, and we look forward to our ongoing collaboration.”
This credit line with Galaxy comes at a time of unprecedented momentum for MoonPay and the crypto industry. MoonPay ended 2024 cash-flow positive and profitable, achieving 112% YoY net revenue growth. With this new line of credit, MoonPay is in a position to capitalize on the rapidly expanding crypto market and solidify its role as the leading crypto payments company for the global digital economy.
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