MoonPay expands into tokenized assets and DeFi markets with new platform for banks

With MoonPay Trade, the crypto payments firm is building infrastructure for banks, fintechs to access stablecoins, tokenized funds and yield in a one-stop shop.

What to know:

• MoonPay is expanding beyond crypto payments to give banks and fintechs access to tokenized assets, DeFi and stablecoin liquidity across more than 200 blockchains.
• The platform is underpinned by Decent.xyz, the cross-chain startup MoonPay acquired, and will support the firm's financial institutional business led by former acting CFTC Chair Caroline Pham.
• Tokenized assets has become rapidly growing crypto sector attracting the interest of Wall Street firms as traditional finance and blockchain increasingly intertwine.

MoonPay is betting institutions want broader access to onchain financial products beyond simple crypto purchases.

The crypto payments firm said Thursday it started MoonPay Trade, a platform designed to connect banks, fintechs and enterprises to tokenized assets, decentralized finance (DeFi) protocols and stablecoin liquidity across more than 200 blockchains through a single integration.

The service is underpinned by Decent.xyz, the cross-chain routing startup MoonPay has acquired for a "high eight-figure" sum, a person familiar with the matter said.

The expansion comes as tokenization is gaining momentum across finance, attracting global banks and asset managers. Tokenized real-world assets — blockchain-based versions of stocks, bonds and funds — now exceed $33 billion in market value, tripling in a year, RWA.xyz data shows. Boston Consulting Group projected the market could grow to $18.9 trillion by 2033.

Large asset managers including BlackRock, Franklin Templeton and JPMorgan have already introduced tokenized funds on public blockchains, while stablecoins increasingly serve as settlement rails for payments and trading activity.

MoonPay Trade will serve as the execution arm for MoonPay Institutional, the company’s business focused on regulated financial firms and led by former acting CFTC Chair Caroline Pham.

"Every major financial institution is building a tokenized asset strategy," Pham said in a statement, adding that the platform gives institutions access to onchain markets "with full compliance."

MoonPay Trade supports tokenized fund subscriptions, collateral transfers and integrations with DeFi lending protocols such as Morpho, Aave and Maple Finance. Those protocols allow users to earn yield or borrow against digital assets directly on blockchain rails.

The firm has been on an acquisition spree as it expands from crypto payments into broader financial infrastructure.

Earlier this month, the company acquired Solana trading infrastructure provider DFlow, which processed more than $12 billion in trading volume in the first quarter. This year, it also bought security startup Sodot, following last year’s acquisitions of payments processors Meso and Helio.

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