MoonPay Secures $200 Million Revolving Credit Line from Galaxy

MoonPay, a prominent player in the cryptocurrency industry, has obtained a $200 million revolving credit line from Galaxy, a major digital asset financial services firm, as the sector experiences renewed vigor.

The financing will offer MoonPay with the necessary liquidity to manage escalating transaction volumes and bolster its global expansion, as stated in a memo provided to crypto.news.

With the increasing activity in the crypto market, there is a growing need for payment infrastructure that can scale up. MoonPay's latest funding initiative aims to guarantee a smooth delivery of services.

Ivan Soto-Wright, the CEO, highlighted the significance of financial adaptability in catering to the rising demand.

"The recent increase in crypto demand has underscored the critical need for resilient and scalable infrastructure," he remarked. "This revolving credit line from Galaxy enables us to cater to the heightened demand while preserving an outstanding user experience."

The credit line comes at a crucial moment for MoonPay, which concluded the year 2024 on a high note, achieving positive cash flow and an 112% year-over-year increase in net revenue.

MoonPay has established itself as a significant participant in the crypto payments space, enabling users across the globe to execute seamless transactions.

With this funding, MoonPay is poised to benefit from the expanding acceptance of digital assets and solidify its position in the evolving global crypto economy.