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Crypto firm MoonPay will be in a 555 million. Dollar financing round valued at $ 3.4 billion



The funds will be used for mergers and acquisitions, hiring additional employees and expanding geographic coverage and payment options.

Global crypto payments infrastructure provider MoonPay announced Monday that the company had reached a valuation of $ 3.4 billion after raising $ 555 in a Series A financing round.

The financing round was led by Tiger Global Management and Coatue, with participation from Blossom Capital, Thrive Capital, Paradigm and NEA.

Launched in 2019, MoonPay offers a range of products that allow users to buy and sell cryptocurrencies such as Bitcoin and Ethereum. The platform supports all major payment methods such as debit and credit cards, bank transfers, Apple Pay, Google Pay and Samsung Pay.

Ivan Soto-Wright, Co-Founder and CEO of MoonPay, said in an interview with CoinDesk that the company will also consider mergers and acquisitions. He said:

“There are companies that can help us move faster in certain regions or improve certain components of the infrastructure stack. We want to bring a billion people into the crypto economy by 2030. We can do that faster by working with other companies. "

Since 2020, the crypto payments company has seen unprecedented growth in transaction volume. It has processed more than $ 2 billion in transactions, attracted more than 250 partners in 160 countries, and enabled 30 fiat currencies and 90 cryptocurrencies, the company said in a statement.

As the prices of Bitcoin and other cryptocurrencies have hit new highs recently, venture capital investments in the startups that drive the market are booming.

MoonPay is also targeting the NFT market. A notable partnership in this area is OpenSea, the world's largest marketplace for NFTs, which has processed a transaction volume of around 10.5 billion US dollars since August. The platform has integrated MoonPay to offer its users an easy, fast and secure way to buy and sell digital assets.

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