MoonPay Secured $200 Million Revolving Credit Line With Galaxy
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MoonPay recently made headlines with one of the largest deals in the entire crypto industry by securing a $200 million revolving credit line from Galaxy.
Dubbed one of the largest deals of its kind in the crypto sector, the agreement came at a time when the industry is seeing unprecedented momentum. As a result, such an offering is not only beneficial for the company but also in high demand. Experts believe that MoonPay will now be able to solidify its role in the global digital economy and capitalize on the growing popularity of the industry.
Galaxy has been known for a while as a diversified financial services and investment management investor in the digital asset sector. Getting a $200 million revolving credit line from a firm like this will allow MoonPay to set a solid foundation and prepare for an expected increase in transaction volume and liquidity demands.
The Digital Asset Ecosystem Is Growing Rapidly
Galaxy’s founder and CEO, billionaire Mike Novogratz, stated that his company is very excited to support MoonPay and reinforce its commitment to driving growth and broadening access in the digital asset ecosystem.
He added that these kinds of initiatives are key to the continued expansion and maturity of the industry, which is why Galaxy is looking forward to the collaboration. Meanwhile, MoonPay’s own CEO, Ivan Soto-Wright, also commented by saying that there has been a considerable surge in crypto demand recently, which demonstrated the critical importance of robust and scalable infrastructure.
Addressing the revolving credit line from Galaxy, he said that it will provide MoonPay with a much-needed financial flexibility which will allow the company to meet the growing demand, and continue delivering exceptional user experience.
He concluded by saying that MonPay is thrilled to partner with Galaxy, which is a recognized leader in the digital asset space.
Prior to this, MoonPay also acquired an API-first stablecoin infrastructure platform called Iron, planning to use it to enterprise offerings, unlock instant, low-cost, international transfers, and enable businesses to accept stablecoin payments.
