History of MoonPay in Timeline

By Popular Timelines Editorial Team · Updated: May 15, 2025

MoonPay is a fintech company established in 2019 that provides payment infrastructure for cryptocurrency and NFT transactions. Headquartered in Miami, it allows users to buy and sell these digital assets using traditional fiat currencies. The company was founded by Ivan Soto-Wright, Victor Faramond, and Maximilian Crown and facilitates broader access to the cryptocurrency market by bridging the gap between fiat and digital currencies.

2019: MoonPay Founded

In 2019, MoonPay was founded by Ivan Soto-Wright, Victor Faramond, and Maximilian Crown. The company is based in Miami and focuses on providing payment infrastructure for cryptocurrency and NFTs.

November 2021: MoonPay Executives Sell $150 Million in Shares

In November 2021, MoonPay executives sold $150 million of company shares in a secondary stock sale. This sale occurred shortly before the 2022 crypto market crash.

November 2021: MoonPay Raises $555 Million in Funding Round

In November 2021, MoonPay raised US$555 million in its first financing round, led by Tiger Global Management and Coatue Management, with participation from Blossom Capital, NEA, Thrive Capital, and Paradigm Operations. The deal valued MoonPay at $3.4 billion. Following the fundraising, MoonPay planned to hire 200 employees and make acquisitions to accelerate growth.

2021: MoonPay processed $2 billion worth of crypto transactions

By 2021, MoonPay had processed $2 billion worth of crypto transactions since its founding. The company also supported all major payment methods for cryptocurrency conversion, including credit cards and Apple Pay. Its software was integrated into major crypto exchanges like OpenSea and Bitcoin.com.

2021: MoonPay's NFT Spending since 2021

It was reported in February 2023 that the wallet MoonPayHQ had spent at least $25 million on NFTs since 2021, with about $15 million of that spent on Bored Apes. MoonPay told CNN that they had 14 Bored Ape NFTs in a cold storage wallet which offered "more safety," and that five of the NFTs had been "purchased by concierge clients" and were in the process of being transferred.

January 2022: MoonPay Allows NFT Purchases and Receives Celebrity Endorsements

In January 2022, MoonPay began enabling customers to purchase NFTs through integrated marketplaces, expanding beyond just cryptocurrency. Paris Hilton and Jimmy Fallon endorsed MoonPay's NFT purchasing technology on The Tonight Show. MoonPay also purchased a rare World of Women NFT for $754,340 at Christie's auction house.

March 11, 2022: MoonPay Ceases Support in Ukraine, Russia, and Belarus

On March 11, 2022, MoonPay ceased supporting customer accounts in Ukraine, Russia, and Belarus due to "political tension" following the Russian invasion of Ukraine.

March 2022: MoonPay Reaches 250 Integrations and Appoints James Freis

By March 2022, MoonPay reported its services were integrated into around 250 wallets, websites, and applications across approximately 160 countries. Additionally, in March 2022, James Freis was appointed as special adviser for global regulatory compliance.

April 12, 2022: MoonPay Raises $87 Million from Celebrities

On April 12, 2022, it was reported that MoonPay had raised a total of $87 million from around 60 entertainment and investment celebrities, including The Chainsmokers.

April 2022: MoonPay Announces Profitability and Reaches 10 Million Customers

In April 2022, MoonPay announced that it had been profitable since its launch and that its services were used by 10 million customers.

May 2022: MoonPay Ranks on CNBC Disruptor 50 List

In May 2022, MoonPay ranked No. 44 on that year's CNBC Disruptor 50 list.

June 2022: MoonPay Launches HyperMint NFT Platform

In June 2022, MoonPay launched HyperMint, an NFT minting platform intended as "an alternative to centralized NFT exchanges like Opensea for creators and their supporters." For the launch, MoonPay partnered with brands such as Universal Pictures, Fox Corporation, Death Row Records, and Creative Artists Agency.

July 2022: FaZe Clan Partners with HyperMint

By July 2022, the eSports organization FaZe Clan had partnered with HyperMint.

December 2022: MoonPay Faces Class-Action Lawsuit

In December 2022, MoonPay and Yuga Labs were named in a class-action lawsuit alleging the artificial inflation of Yuga Labs' digital offerings through celebrity endorsements without disclosure of financial relationships. MoonPay responded that disclosures had been made and anticipated dismissal of the suit.

2022: MoonPay valuation lowered

By the end of 2022, amid crypto industry scandals and macroeconomic challenges, one of MoonPay's investors, Tiger Global, lowered its internal valuation of MoonPay to $2.8 billion.

2022: MoonPay CEO Comments on Custodial Practices

In 2022, MoonPay CEO Ivan Soto-Wright stated that MoonPay does not hold customer funds, contrasting its business model with that of crypto companies like FTX. Soto-Wright described MoonPay’s platform as "non-custodial," highlighting the safety and user control provided by MPC (multi-party computation) technology for storing assets.

2022: MoonPay Provides Concierge Services for Celebrities

In 2022, MoonPay's "concierge arm" became known for helping celebrities such as Jimmy Fallon purchase NFTs. MoonPay also operates HyperMint.

2022: Crypto market crash

In 2022, a crypto market crash occurred.

February 2023: MoonPay's NFT Spending and New President

In February 2023, it was reported that the wallet MoonPayHQ had spent at least $25 million on NFTs since 2021, including $15 million on Bored Apes. MoonPay stated it held 14 Bored Ape NFTs in a cold storage wallet. Asiff Hirji was hired as MoonPay's President in February 2023.

2023: Keith Grossman becomes MoonPay President of Enterprise

At the start of 2023, Keith Grossman, former president of TIME, became MoonPay's President of Enterprise. Grossman previously oversaw TIME's TIMEPieces NFT collection.

2023: Fortune comments on MoonPay executive stock sale

In 2023, Fortune wrote about a $150 million secondary stock sale by MoonPay executives that occurred in November 2021, noting that such sales during funding rounds were not uncommon at the time, but were critiqued by investors and employees for occurring shortly before the 2022 crypto market crash.

2024: MoonPay valuation and operations

In 2024, MoonPay had an estimated valuation of $3.4 billion and stated it had overseen the transfer of $2 billion in crypto overall. It was active in around 160 countries.