MoonPay is planning a massive expansion into the UK by making London its new operational base. In this effort, MoonPay plans to recruit an additional 20 staff before opening an office in London, according to a Bloomberg report.
Reporting from Coin Speaker, in an interview, MoonPay CEO Ivan Soto-Wright stated that the company is targeting to have more than 100 employees when offices in London open next year in the Spitalfields area. Currently, MoonPay has about 80 employees.
MoonPay is primarily looking for engineers and compliance staff. Soto-Wright explained that the company's decision to head to London was driven by friendly regulatory environments and the ease of recruiting quality talent.
The talent entity in England is very high. It's hard to get talented people and good technicians in other parts of the earth," said Soto-Wright.
In 2021, after the funding round, MoonPay is priced at 3.4 billion US Dollars (approximately IDR 54.9 trillion). MoonPay is famous for its software that allows investors to easily switch between fiat currency and crypto assets.
MoonPay is applying for an electronic money license in the UK. If approved, this will allow the payment platform to provide fiat currency account services without the need for intermediaries. In December 2022, MoonPay has successfully obtained registration from the UK Financial Supervisory Authority (FCA), which demonstrates MoonPay's willingness to comply with local money laundering rules.
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Launched in 2019, MoonPay has grown to more than 160 countries. This fintech company serves as access to digital assets in the crypto market. Britain is the second largest market for MoonPay after the United States.
MoonPay serves more than 300 leading websites, wallets and applications. MoonPay's advantage lies in security in payment delivery and fraud prevention. Because of this, in 2023, Mastercard Inc (NYSE: MA) card company partnered with MoonPay to integrate blockchain technology into its system with the aim of increasing customer loyalty.
This collaboration also paved the way for the payment application to take advantage of the Mastercard Crypto Credential system. According to the agreement, other exploration areas including experiments with how Mastercard's Send and Click to Pay technology services can be integrated into MoonPay Web3 stacks.
In addition, Trust Wallet, a decentralized crypto wallet service provider, also partnered with MoonPay. This collaboration facilitates the conversion of tokens by Trust Wallet users into fiat through the app. This collaboration has helped MoonPay expand its presence in crypto finance ecosystems and mainstream for years.
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