Miami-based MoonPay reaches $3.4 billion valuation
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The company, which specializes in creating infrastructure for digital currencies, has just seen its valuation jump to $3.4 billion following its latest fundraising of $555 million.
"Our mission is to democratize access to the digital economy by providing the necessary tools for businesses to welcome new users via a product with a unique experience in the world," explained MoonPay CEO Ivan Soto-Wright. "Our vision is to help billions of people access trillions of dollars of digital value over the next few decades.
MoonPay presents itself as the world's largest provider of crypto-currency payment infrastructure to better connect traditional finance to the digital economy. Via Moonpay's tools, companies can set up the infrastructure to buy and sell crypto-currencies while remaining compliant with industry regulations and laws. Industry leaders such as bitcoin.com and opensea are already working with Moonpay.
"We believe that the digital economy is growing faster than the internet at a similar stage and Moonpay is perfectly positioned to serve innovative companies in the sector as well as the traditional finance industry," explained Kris Fredrickson, partner at the venture capital fund Coatue , which is participating in the round.
Moonpay is active in 160 countries, based in Miami (but with a "remote first" policy that emphasizes telecommuting) and expects to reach $150 million in revenue by 2021 for about 130 employees.
Source: Moonpay, South Florida Business Journal
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