We’re pleased to announce that the Texas Department of Banking has granted MoonPay a Money Transmitter License to provide money transmission services in the Lone Star State.
Starting today, Texas residents can buy 64 cryptocurrencies on MoonPay with Venmo and PayPal, opening the door to millions of Texans looking to enter the crypto space.
“MoonPay is committed to prioritizing compliance and consumer protection as we expand crypto accessibility in Texas and beyond,” said MoonPay co-founder and CEO, Ivan Soto-Wright. “We look forward to continuing our close work with regulatory bodies to bring our crypto solutions to more users around the world.”
Texas is the second-most populous state behind California and a major hub for Bitcoin mining. Current estimates indicate that over a fifth of voting-age Texans own crypto. We plan to expand our services in Texas in 2025, allowing residents to sell cryptocurrencies, including BTC, ETH, and SOL.
MoonPay added both Venmo and PayPal (Venmo’s parent company) as payment methods earlier this year.
With the addition of Texas, MoonPay's proactive approach to compliance has earned us 45 Money Transmitter Licenses, allowing us to operate in diverse markets across the U.S.