$5 billion valuation! NYSE parent company ICE in talks to invest in crypto payment giant MoonPay

According to informed sources, Intercontinental Exchange Group (ICE), the parent company of the New York Stock Exchange, is engaged in in-depth negotiations to invest in the crypto payment company MoonPay. This move could become another landmark event as traditional financial giants venture into the digital asset space. In this funding round, MoonPay’s valuation aims as high as 5 billion USD, a significant jump from its peak valuation of 3.4 billion USD during the 2021 bull market. This development occurs amid a more favorable regulatory climate under President Trump, coupled with increasing Wall Street capital interest in crypto infrastructure, and MoonPay’s active expansion through acquisitions and the launch of stablecoin services, signaling a new wave of capital consolidation and valuation reassessment in the crypto payments sector.

ICE Negotiates Investment in MoonPay, a Strategic Move by Traditional Financial Giants in the Crypto Arena

The global financial infrastructure giant—Intercontinental Exchange (ICE)—is further extending its reach into the cryptocurrency world. According to Bloomberg citing sources, ICE is participating in negotiations for a new funding round for crypto payment service provider MoonPay. Although ICE has not officially commented, this development alone has already attracted significant market attention. ICE not only owns the New York Stock Exchange but also operates several key futures exchanges and clearinghouses worldwide, and its investment decisions are often seen as industry barometers in traditional finance.

This potential stake is not ICE’s first attempt in the crypto space. In October this year, ICE agreed to invest up to 2 billion USD in prediction market platform Polymarket, demonstrating its firm commitment to expanding into new blockchain-based business lines. The negotiations to invest in MoonPay can be viewed as a continuation and deepening of this strategic approach. It indicates that traditional financial giants are increasingly focused not just on assets like Bitcoin or Ethereum, but also on the underlying payment and fiat on/off-ramp infrastructure that supports the entire crypto economy—considered a key factor for industry maturity and mainstream adoption.

Why is MoonPay Valued at 5 Billion USD? Analyzing the Moat and Ambitions of a Payment Gateway

Founded in 2019, MoonPay’s core business is providing software solutions that facilitate easy conversion between fiat and cryptocurrencies. In simple terms, it acts as a “payment gateway” connecting traditional banking systems with hundreds of crypto platforms, wallets, and applications. During its last funding round at the end of 2021, MoonPay was valued at 3.4 billion USD, attracting attention from celebrities like Justin Bieber and Bruce Willis. Now, amid market adjustments and a subsequent rebound, its valuation target has risen to 5 billion USD, and the underlying logic warrants close examination.

Supporting this valuation is MoonPay’s proactive expansion strategy and clear diversification over the past year. The company has acquired at least four startups and officially launched its own stablecoin business. Notably, after the U.S. Congress passed milestone legislation on stablecoins in July, removing barriers for stablecoins pegged to currencies like the US dollar, MoonPay’s early positioning appears highly forward-looking.

Key Data Insights into MoonPay’s Growth Trajectory and Strategy

To better understand MoonPay’s development, we can analyze several key data points:

Valuation Increase: From a valuation of 3.4 billion USD at the end of 2021 to a target of about 5 billion USD in this round, indicating significant value growth even after the crypto winter.

Regulatory Footprint: Successfully inviting Caroline Pham, acting chair of the U.S. Commodity Futures Trading Commission, to join as Chief Legal Officer, greatly enhancing the company’s compliance and government relations capabilities.

Business Expansion: Completing at least four acquisitions by 2025 and rapidly entering the stablecoin sector, demonstrating strong execution and strategic breadth.

Deepening Partnerships: Collaborating with well-known self-custody wallet Exodus Movement to jointly develop and launch a fully-reserved USD stablecoin, directly integrated into their payment products, creating an ecosystem loop.

These actions depict a company that is no longer content with merely being a payment conduit but is striving to build a comprehensive crypto financial services platform.

Wall Street Capital Flows: Crypto VC Funding Reaches a Three-Year High in 2025

ICE’s interest in MoonPay is just a microcosm of the broader return of traditional capital to the crypto sector. According to PitchBook data, as of now, total venture capital invested in cryptocurrency and blockchain companies in 2025 has approached 19 billion USD, the highest level since 2022, indicating that institutional funds are re-entering the industry at an unprecedented pace.

This capital influx is closely tied to the political and regulatory shifts in the U.S… The more friendly regulatory environment shaped by the Trump administration has provided financial institutions with the long-sought “regulatory clarity.” Whether it’s ICE’s continued investments in Polymarket and negotiations with MoonPay, or top market makers like Citadel Securities participating in Ripple’s 4 billion USD valuation funding, a clear signal is being sent: Wall Street is systematically “stockpiling” crypto infrastructure. Their investments are not just in specific applications but in the essential payment, trading, custody, and compliance capabilities needed for the future integration of digital assets and traditional finance.

This shift in investment logic is crucial. It signifies that capital is no longer solely chasing short-term asset price increases but is focusing on long-term, sustainable business models and the “crypto tech stack” capable of generating stable cash flows. MoonPay, as a key gateway between fiat and crypto worlds, sits right at this value nexus.

MoonPay’s Next Destination: From Payment Gateway to Stablecoin Issuer

The latest collaboration with Exodus Movement clearly reveals MoonPay’s strategic direction. The two will jointly launch a fully-reserved USD stablecoin, issued and managed by MoonPay, based on its open stablecoin infrastructure, and ultimately integrated into Exodus’s payment product, Exodus Pay. This marks MoonPay’s evolution from a technology service provider to a quasi-financial institution with the ability to issue and manage its own digital financial assets.

Issuing stablecoins can generate new revenue streams (such as reserve interest), but more importantly, it can bind users more tightly within MoonPay’s ecosystem. As users become accustomed to using stablecoins issued or supported by MoonPay for payments, trading, and savings, MoonPay’s position across the entire value chain will become more central and resilient. This will likely enhance its appeal to strategic investors like ICE, which may value MoonPay’s potential to build a compliant, integrated crypto financial system.

In summary, the negotiations between ICE and MoonPay represent a significant handshake between traditional financial capital and crypto-native enterprises in a new industry cycle. It is both an affirmation of MoonPay’s past achievements and future potential, and a reflection of how, against a gradually clarifying regulatory backdrop, top financial institutions are eager to secure key positions in the next-generation financial infrastructure. Regardless of whether this investment materializes, the capital flow and industry integration trends it reveals are now irreversible.