MoonPay Launches Virtual Accounts in New York

We’re thrilled to announce that we are now offering Virtual Accounts, powered by Iron, in New York State!

Fintechs, crypto platforms, neobanks, brokerages, and financial institutions can now integrate compliant fiat-to-stablecoin infrastructure for businesses and end users – whether they operate within New York or serve businesses, counterparties, or end users based in the state.

Virtual Accounts enable platforms to issue named, dedicated accounts to end users that can receive fiat funds via local and international payment rails such as ACH, Wire, and SWIFT. Incoming funds are automatically converted into stablecoins and settled directly into users’ non-custodial wallets. By connecting traditional payment methods with blockchain-based settlement through a single API, Virtual Accounts enable fiat-to-stablecoin flows across payments, trading, treasury, and global money movement.

New York's concentration of financial institutions, asset managers, and fintechs, combined with its respected regulatory framework, makes this launch particularly significant. 

“The ability to offer this product to residents of New York allows us to bring stablecoin infrastructure directly into one of the most important financial ecosystems globally,” said Max von Wallenberg, CEO of Iron. “Platforms can now offer Virtual Accounts and fiat-to-stablecoin capabilities to their customers, whether they are based in New York or serving customers in the state. This is a key step toward making stablecoin infrastructure a standard component of modern financial services.”