MoonPay envisions a non-custodial, API-first future for crypto where cryptocurrency wallets replace bank accounts and decentralized exchanges overtake centralized ones.
A Non-Custodial, API-First Future for Crypto: MoonPay‘s Vision
Cryptocurrency wallets will eventually replace bank accounts, according to Ivan Soto-Wright, CEO & Co-Founder of MoonPay. With over 30 million verified users across 160 countries and a fully licensed global stack, the company is enabling everything from fiat onramps to embedded DeFi experiences.
MoonPay is a global fintech company that provides an infrastructure for buying, selling, and holding digital assets.
It offers a range of products and services, including online payment processing, cryptocurrency wallets, and exchange solutions.
Founded in 2019, MoonPay has gained popularity among users for its user-friendly interface and fast transaction times.
The platform supports over 100 cryptocurrencies and allows users to purchase digital assets with credit or debit cards.
Building an Infrastructure Layer for Web3
MoonPay is quietly becoming the infrastructure layer for the next wave of Web3. The company’s API-first solutions are used by nearly every major DeFi app, and its recent acquisition of Helio has underscored this trajectory. ‘We believe crypto should be non-custodial first,’ said the company’s CEO. Helio is a Solana-powered crypto payment processor that MoonPay acquired in January for $175 million.
Web3 is a decentralized internet architecture that enables users to control their own data and identity.
Built on blockchain technology, Web3 allows for secure, transparent, and permissionless interactions between individuals and applications.
This new era of web development promises improved user experience, increased security, and enhanced data ownership.
With the rise of Web3, traditional centralized systems are being replaced by decentralized alternatives, paving the way for a more democratic and equitable internet.
Execution-First and Focused on Efficiency
Despite its size and reach, MoonPay still operates with a startup mentality. With only 300 employees, the team is ‘execution-first’ and relentlessly focused on efficiency. The company saw 112% year-on-year growth, with Q1 2025 marking its strongest quarter ever.
A Shift towards Non-Custodial Finance
MoonPay‘s central theme is the shift from custodial to non-custodial finance. ‘We believe crypto should be non-custodial first,’ said the company’s CEO. To facilitate this shift, MoonPay is developing what it calls the ‘CEX experience in a DeFi environment.’ This means abstracting away the complexity of DeFi — wallets, UTXOs, compliance — into easy-to-integrate SDKs and widgets.
Non-custodial finance refers to a financial system where users have control over their private keys and assets, without relying on a third-party intermediary.
This approach prioritizes decentralization, security, and transparency.
In non-custodial finance, transactions are verified through blockchain technology, ensuring the integrity of each transfer.
Users can manage their own wallets, making it easier to access and use their funds.
Non-custodial finance promotes financial freedom, as users are not dependent on a central authority for asset management.
A Future with Decentralized Exchanges
Soto-Wright sees a trend emerging where decentralized exchanges (DEXs) will overtake centralized exchanges (CEXs). Users demand control over their assets but expect the smooth UX of a centralized platform. MoonPay‘s ethos is that more crypto transactions should be peer-to-peer, taking advantage of decentralized exchanges.
The Future of Wallets
Cryptocurrency wallets will eventually replace bank accounts, with users having multiple wallets like they do now. MoonPay provides the mission-critical infrastructure to power these wallet experiences, both from its MoonPay Widget product and APIs.
Acquisitions and Expansion
MoonPay plans to continue making acquisitions in the near term. M&A is a huge growth driver for the business, and the company views it as an accelerator to help move quickly and bring more products to market. Past acquisitions have been cash-flow positive from day one, and MoonPay is always open to identifying the right companies to achieve its vision for the future of payments.
A Stablecoin in the Pipeline?
While not yet confirmed, a MoonPay stablecoin could be in the pipeline. ‘We believe crypto should be non-custodial first,’ said the company’s CEO. Soto-Wright notes that early signs are visible in Balance, which allows users to deposit cash and trade instantly without any fees. Eventually, there could be a stablecoin, taking advantage of decentralized exchanges to provide a smooth UX for users.
MoonPay‘s vision for a non-custodial, API-first future for crypto is shaping up to be a major player in the industry. With its focus on efficiency, ease of use, and decentralization, MoonPay is poised to revolutionize the way we think about cryptocurrency transactions.
