MoonPay is setting up its new U.S. headquarters in Manhattan’s SoHo district, a move that shows how quickly New York City is turning into a major base for crypto companies. Once seen as too tightly regulated for the industry, the city now seems to be making room for serious players.
A 5,000-square-foot headquarters is the company’s biggest U.S. office to date. It comes on the heels of MoonPay securing its long-sought BitLicense from New York’s Department of Financial Services, a key approval that allows it to operate in all 50 states. Only 35 digital asset companies currently hold the license.
For investors and watchers hunting for the next 100x crypto, this kind of growth from established firms like MoonPay signals confidence in the industry’s long-term strength. Their ability to thrive despite complex state-level rules points to a maturing ecosystem, even if the road to full clarity remains slow.
But New York hasn’t always welcomed crypto. Back in 2015, the state rolled out its now-infamous BitLicense, which many startups found too restrictive. At the time, companies avoided New York in favor of Miami, Austin, and other lighter-touch cities. MoonPay was no exception; it started in Florida in 2019.
However, that tide began to turn after 2021, when Mayor Eric Adams openly backed digital currency. His support helped shift the focus from regulation to innovation, even while the core rules stayed intact. Since then, names like Coinbase, Consensys, and Chainalysis have expanded their presence in the city.
That growing support is partly driven by the economic impact. The crypto sector isn’t just trading tokens. It’s also hiring engineers, leasing office space, and boosting revenue for local service providers. With over 130 crypto-related firms now active in New York, there’s little doubt the industry is becoming a real piece of the city’s financial engine.
Finger Lakes residents may also see ripple effects. As upstate New York builds out energy and tech infrastructure, especially around blockchain data centers, regions beyond the five boroughs could benefit from the same momentum driving MoonPay’s expansion.
CEO Ivan Soto-Wright has also been active on the policy front. Earlier this year, he spoke in Washington, D.C. alongside other crypto executives, supporting clearer national rules. In a letter to Congress, he backed state-level oversight for stablecoins but warned that too much federal control could sideline local businesses.
That warning comes at a time when officials are rethinking the BitLicense. Mayor Adams, speaking at Bitcoin 2025 in Las Vegas, said it was time to “revisit” the rules. While no changes are on the books yet, the pressure is building.
Even so, MoonPay’s recent growth speaks for itself. In the first quarter of 2025, the company reported a 123% rise in transaction volume and a near 50% jump in net revenue. Those numbers show that, for now, the company is doing more than just testing the waters. They’re here to stay, and they picked New York to prove it.
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