MoonPay has received a trust charter from New York’s Department of Financial Services, allowing the company to offer crypto custody and trading services in the state. This approval will help MoonPay deepen relationships with global financial institutions and expand its regulated services. Other companies with similar approvals include Ripple Labs and Coinbase.

Following the GENIUS Act in the US, MoonPay has launched an initiative to allow stablecoin issuers to create and distribute their own stablecoins. This law has prompted traditional finance companies like Visa and Bank of America to expand their stablecoin offerings and consider creating their own stablecoins. The stablecoin infrastructure is evolving rapidly in the financial sector.

Read more at Cointelegraph: MoonPay Secures New York Trust Charter, Expands Regulated Services