Galaxy Secures $200M Credit Line for MoonPay to Accelerate Digital Asset Expansion
MoonPay, a leading digital asset payments platform, has recently secured a substantial $200 million revolving credit line from Galaxy, a financial services firm specializing in digital assets. This significant funding marks one of the largest revolving credit lines within the digital asset industry and comes at a time when MoonPay is witnessing remarkable growth.
Understanding MoonPay’s Growth and Future Plans
MoonPay empowers both users and businesses to effortlessly buy, sell, and manage digital assets through innovative payment solutions. The newly acquired credit facility will be instrumental in helping the company manage increasing demand, maintain liquidity, and provide uninterrupted service delivery.
Key Highlights of the Credit Facility
- Amount Secured: $200 million revolving credit line.
- Purpose: To support growing demand and ensure liquidity.
- Financial Performance: MoonPay ended 2024 with a cash-flow positive status and profitability, achieving a remarkable 112% year-on-year net revenue growth.
Statements from Leadership
Ivan Soto-Wright, co-founder and CEO of MoonPay, expressed his enthusiasm regarding the partnership with Galaxy, stating, “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.”
Mike Novogratz, founder and CEO of Galaxy, echoed these sentiments, emphasizing, “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.”
Conclusion
The partnership between MoonPay and Galaxy highlights the evolving landscape of digital asset payments and the increasing demand for robust infrastructure in the sector. With the new credit line, MoonPay is well-positioned to capitalize on growth opportunities while enhancing user experience. To learn more about the future of digital assets, check out this article on Forbes.
