Wall Street giant ICE targets MoonPay in $5 billion crypto push
NYSE owner Intercontinental Exchange (ICE) is reportedly negotiating a stake in crypto payments firm MoonPay at a $5 billion valuation. The investment would mark another major step into digital assets for the Wall Street giant after backing Bakkt and Polymarket.
Ice targets stake in moonpay
Intercontinental Exchange (ICE), the owner of the New York Stock Exchange (NYSE), negotiates an investment in crypto payments company MoonPay. The funding round targets a valuation close to $5 billion, up from $3.4 billion in 2021. ICE already owns crypto platform Bakkt and recently announced a strategic investment in prediction market Polymarket worth $2 billion. The MoonPay deal would extend ICE’s presence in crypto infrastructure from trading venues into consumer and institutional payment flows.
Valuation jump and funding background
MoonPay reached a $3.4 billion valuation in November 2021 after a $555 million Series A funding round led by Tiger Global Management and Coatue. The new $5 billion target represents a roughly 47% valuation increase from that round, according to multiple financial news reports. Bloomberg reports that MoonPay is close to completing the current fundraising, which forms part of a broader capital plan. Speculation: A successful close at this valuation would signal stronger investor interest in regulated crypto payments providers after the last market downturn.
“Receiving our New York Trust Charter reflects our commitment to meeting the highest standards of compliance, security, and governance. It enables us to deepen relationships with global financial institutions, expand our regulated service offerings, and continue bridging traditional and digital finance in a trusted way.” — Ivan Soto-Wright, Co-founder and CEO, MoonPay
Regulation and institutional crypto access
The New York State Department of Financial Services (NYDFS) granted a limited purpose trust charter to MoonPay Trust Company in November 2025. NYDFS is a United States state regulator that supervises banks and licensed digital asset firms in New York. The charter authorises MoonPay to provide digital asset custody and over-the-counter (OTC) trading services under New York fiduciary rules. This setup gives institutional clients a regulated venue for holding and trading crypto assets alongside traditional portfolios.
Market context for wall street expansion
ICE’s negotiations with MoonPay follow earlier moves into crypto through Bakkt and the $2 billion commitment to Polymarket. Bakkt offers crypto custody and trading services for institutions and enterprises, while Polymarket runs a platform where traders buy and sell outcome-based contracts. Speculation: A completed MoonPay deal would push more Wall Street firms toward regulated crypto payments, custody, and data products across consumer and institutional segments. Together, NYSE ownership, regulated trust structures, and MoonPay’s payment infrastructure position ICE as a tradfi–crypto bridge if this strategy continues.