Intercontinental Exchange, the parent company of the New York Stock Exchange, is reportedly in talks to invest in crypto payments firm MoonPay, which is seeking a valuation of around $5 billion in its latest funding round. The potential deal highlights how deeply traditional financial institutions are moving into the digital asset space.
MoonPay has been especially active throughout 2025, expanding its footprint beyond fiat-to-crypto payments. The company has acquired several startups this year and recently launched a stablecoin-focused business, signaling its ambition to become a full-stack crypto payments and infrastructure provider.
The reported interest from ICE comes as Wall Street’s appetite for crypto continues to grow, fueled in part by a more accommodating regulatory and political environment under President Donald Trump. Institutional investors and legacy market operators are increasingly viewing blockchain and digital payments as long-term strategic opportunities rather than speculative side bets.
Adding further credibility to MoonPay’s regulatory push, former acting CFTC chair Caroline Pham is set to join the company as chief legal officer. Her appointment signals MoonPay’s intent to strengthen compliance efforts as it scales its operations globally.
The broader funding environment reflects this momentum. Crypto venture investment has reached nearly $19 billion so far in 2025, underscoring renewed confidence across both private and public markets. MoonPay’s $5 billion valuation target places it among the most highly valued companies in the crypto payments sector.
In parallel, crypto wallet provider Exodus is preparing to launch a U.S. dollar-backed stablecoin in partnership with MoonPay and infrastructure provider M0. The stablecoin will be integrated directly into the Exodus Pay app, enabling users to hold, send, and spend dollars while maintaining full self-custody.
Unlike many existing stablecoins designed primarily for trading and liquidity, the new token will be fully backed by dollar deposits and built specifically for everyday payments. Users will be able to transact without relying on external exchanges, simplifying on-chain payments for non-traders.
MoonPay will oversee issuance and reserve management using its existing global payments network, while M0 will supply the underlying blockchain infrastructure. The stablecoin is expected to launch in early 2026, pending regulatory approval, with details such as supported blockchains and the token’s name to be announced closer to release.
Together, these developments underline a clear trend: Wall Street and legacy financial players are no longer standing on the sidelines. Instead, they are actively positioning themselves at the center of the next phase of digital finance.
