![]() ![]() The company’s payment infrastructure provides a simple entry point into the cryptocurrency market by allowing people to convert traditional fiat currencies to cryptocurrencies using all major payment methods.Ĭlients partner with Cooley on transformative deals, complex IP and regulatory matters, and high-stakes litigation, where innovation meets the law.Ĭooley has 1,500 lawyers across 17 offices in the United States, Asia and Europe. MoonPay’s goal is to give the next billion people access to cryptocurrency – a technology that ultimately has the power to affect as many lives as the internet. We are on a mission to help billions of people access trillions of dollars of digital value over the next decade and beyond.” “We set out to democratize access to the crypto economy by providing the tools for businesses to onboard new users with magical product experiences. “MoonPay is the world’s largest provider of crypto payments infrastructure that enables any organization to bridge traditional finance and crypto,” Ivan Soto-Wright, co-founder and CEO of MoonPay, said in a blog post. MoonPay will use the new capital to continue its remarkable growth, enabling the company to accelerate international expansion and broaden its world-class team. Tiger Global Management and Coatue led the round, with participation from Blossom Capital, Thrive Capital, Paradigm and NEA. ![]() Lawyers Derek Colla and Asheley Walker led the Cooley team advising MoonPay. "We need to take that tool set and arm the biggest brands and the biggest creators to work through the use cases that are going to actually matter."ĭisclosure: Comcast is the parent company of NBCUniversal and CNBC.Washington, DC – Novem– Cooley advised MoonPay, a payment infrastructure provider for crypto companies, on its $555 million Series A financing round, which brings its valuation to $3.4 billion. people eventually start to question the value of things and I think that's why the shift beyond looking at NFTs as collectibles, but being able to program utility into them is going to be very, very important," Soto-Wright said. "I think it makes sense that we're going to go through periods of price discovery and irrational exuberance. Ether was higher in trading on Monday as well. Bitcoin still sits 70% below its all-time high, hit in November, and it is down 57% year-to-date. Combined, its new investors poured $87 million into a previously announced $555 million funding round led by Tiger Global and Coatue, valuing the company at $3.4 billion.īitcoin rebounded on Monday, after the cryptocurrency fell below its 2017 high over the weekend, when it traded as low as $17,601.58. Last month, MoonPay added more than 60 celebrity investors to its balance sheet, including Justin Bieber, Gwyneth Paltrow, Snoop Dogg and Ashton Kutcher, among others. Its service is now used by more than 10 million customers in 160 countries. The company also has a bug bounty program that rewards people for discovering weaknesses in MoonPays security to help them make improvements. According to its website, all data is encrypted in transit using AES-256 block-level storage encryption. The MoonPay story began in the summer of 2018 as Soto-Wright and Faramond were frustrated with the way users were onboarded into cryptocurrencies. ![]() MoonPay says it has been profitable since launching its platform in 2019. MoonPay is a safe crypto payment solution. Origin story MoonPay is a fintech company founded by Ivan Soto-Wright and Victor Faramond in 2019. It's a brand new asset class and we have a brand new subset of that asset class, which is NFTs." There's always going to be periods of volatility. "I've seen many of these different cycles before. "It's been a rough few months for crypto," Soto-Wright said. The crypto space is still reeling from the fallout of the $60 billion collapse of two major tokens last month. The company's latest product launch comes amid an extended selloff in cryptocurrencies, as investors continue to grapple with aggressive interest rate hikes from the Federal Reserve and a worsening liquidity crunch that has pushed major players into financial difficulty. The recent market volatility and risk-off investor environment hasn't been kind to crypto trading, but Soto-Wright's vision is to expand the platform to include everything from digital fashion to tokenized stocks. 5 pipe diameter lengths moonpay valletta mt straight pipe reuirements for flow meter. For now, that includes bitcoin, ether and other digital tokens like NFTs. MoonPay's pitch to investors is that it offers a "gateway" to digital assets. ![]() Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit ![]()
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