What role is MoonPay playing in the evolution of Web3? Are they focusing on just fiat onramps, or are they expanding into other areas of DeFi? How does MoonPay’s acquisition of Helio reflect their growth strategy? What innovations in transaction fees and trading models are being explored by the company? In what ways might cryptocurrency wallets reshape the traditional banking landscape?
As the crypto space consolidates, MoonPay is quietly becoming the infrastructure layer for the next wave of Web3. 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. Originally launched to make wallet top-ups seamless via Apple Pay and debit cards, MoonPay now powers API-first solutions used by nearly every major DeFi app. “We started with a simple question, how do you top up your wallet?” MoonPay’s CEO and co-founder Ivan Soto-Wright told CoinDesk in an interview. Now it’s about giving developers the tools to bring crypto into everyday life.
Ivan Soto-Wright is speaking on the main stage at Consensus 2025, in Toronto on May 15. The company is pushing toward a fully API-driven, "headless" infrastructure model, where developers can plug MoonPay into their products just like Stripe. Helio, one of MoonPay’s recent acquisitions, underscores this trajectory. Moonpay acquired the Solana-powered crypto payment processor in January, for a reported $175 million. 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.
MoonPay primarily earns via transaction fees on crypto purchases through debit cards, Venmo, and Apple Pay. But it’s experimenting with zero-fee trading products like “Balance,” which allows users to deposit cash and trade instantly. Soto-Wright is a well-known entrepreneur and investor, and is a member of the Milken Institute Fintech Advisory Council. Prior to MoonPay, he was CEO and co-founder of smart money app Saveable. He started his career at London-based investment firm Redington.
CoinDesk: What trends do you see emerging in crypto?
Soto-Wright: “DEXs will overtake CEXs, with users demanding control over their assets but expecting 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. We’re seeing a general shift from CeFi to DeFi, with decentralized exchanges currently dominating 30% of the market. I see this trend continuing to shift over time – DeFi is global and ultimately reduces friction and costs by cutting out the middleman.”
How do you expect the wallet market to develop?
“Cryptocurrency wallets will eventually replace bank accounts. Users will have multiple wallets, like you and I have a number of bank accounts now. MoonPay provides the mission-critical infrastructure to power these wallet experiences, both from our MoonPay Widget product and APIs.”
Does MoonPay plan to make more acquisitions in the near term?
“M&A is a huge growth driver to our business. We view it as an accelerator to help us move quickly and bring more products to market. A big part of our M&A strategy is identifying the right companies to help achieve our vision for the future of payments. An example of this is Helio, which unlocked our ability to power crypto commerce for merchants. We’re always open to M&A,” Soto-Wright said, noting that past acquisitions have been cash-flow positive from day one. “It’s about speed, scaling by acquiring great teams with a sharp founder mindset.”
What features do customers want, better UX?
A central theme for MoonPay 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.” That means abstracting away the complexity of DeFi — wallets, UTXOs, compliance — into easy-to-integrate SDKs and widgets. “Think of it like packaging up the convenience of a centralized exchange and putting it into your own wallet.”
What does the future have in store for MoonPay?
While not yet confirmed, a MoonPay stablecoin could be in the pipeline. “We’re taking our time, but you can see the early signs in Balance. Eventually, there could be a stablecoin.”
READ MORE: Why MoonPay and PayPal Partnered to Expand Crypto Adoption in the U.S.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
MoonPay’s Ivan Soto-Wright Bets on a Non-Custodial, API-First Future for Crypto
As the cryptocurrency ecosystem continues to evolve, the discourse surrounding user autonomy and security takes center stage. One of the leading voices in promoting a non-custodial approach to digital transactions is Ivan Soto-Wright, co-founder and CEO of MoonPay. With his sights set on an API-first future for crypto, Soto-Wright is not just envisioning an innovative landscape but actively shaping it.
The Rise of Non-Custodial Solutions
In the simplest terms, a non-custodial solution allows users to maintain ownership of their private keys and assets, which contrasts with custodial services that manage these keys on behalf of the user. This distinction is crucial in a world where cybersecurity threats are rampant and traditional financial institutions are often viewed with skepticism. Soto-Wright argues that a non-custodial approach provides greater security, transparency, and control for users, thus fostering trust in the broader cryptocurrency space.
Soto-Wright’s journey into the crypto world began with a desire to democratize access to financial services. Realizing that many users were wary of centralized platforms, he recognized the immense potential of non-custodial models. "People are looking for solutions that give them ownership and control," he states. "In an API-first world, companies can build on top of these protocols while ensuring that users never lose access to their own funds."
MoonPay: A Gateway to Freedom
MoonPay has been at the forefront of simplifying the crypto purchasing experience. Initially, it facilitated seamless transactions between traditional currencies and cryptocurrencies, allowing users to buy digital assets effortlessly. However, the company is not resting on its laurels. Under Soto-Wright’s leadership, MoonPay is evolving into a robust platform that champions non-custodial solutions, leveraging APIs to forge connections between various crypto ecosystems.
Soto-Wright envisions a future where developers can easily integrate cryptocurrency payments into their applications without having to compromise user autonomy. This API-first methodology allows businesses to offer services that are not only user-friendly but also secure, as they eliminate the risks associated with centralized control over user assets.
Empowering Developers and Users Alike
An API-first strategy does not only enhance user experience but also empowers developers. By providing them with the tools to build non-custodial solutions, MoonPay is fostering innovation and reducing barriers to entry for new projects. Developers can create sophisticated applications that bring advanced capabilities to the forefront, from decentralized finance (DeFi) solutions to NFT marketplaces, without needing to reinvent the wheel.
Soto-Wright emphasizes, “Our goal is to provide the infrastructure that allows developers to focus on their products while we handle the heavy lifting regarding payments.” This is revolutionary, especially in a space where time-to-market can be a key differentiator.
Bridging Traditional Finance and Crypto
One challenge that has historically hindered the growth of cryptocurrency adoption is the disconnect between traditional finance and the digital asset realm. MoonPay has been addressing this gap by acting as a bridge. As the company pivots towards non-custodial solutions, it’s crucial to maintain that connection, ensuring that new users—especially those unfamiliar with cryptocurrency—can engage without fear or confusion.
Soto-Wright points out that maintaining user trust is paramount. “The more we can decentralize control and give users a sense of ownership, the more we can encourage adoption,” he notes. This is particularly important in a world where crypto is gaining traction but still faces skepticism from mainstream audiences.
The Future: Scalability and Compliance
In an API-first world, scalability becomes a focal point of development. Soto-Wright believes that MoonPay’s focus on APIs will allow scaling operations rapidly without compromising security or user experience. This will be crucial as more users enter the crypto space, putting increased demands on infrastructure.
Moreover, compliance remains a significant concern for cryptocurrency businesses. As regulations vary regionally and continue to evolve, an API-first approach allows companies to respond more agilely to changing regulations while ensuring compliance without deterring user experience.
Conclusion: A New Era of Crypto
Ivan Soto-Wright’s vision for a non-custodial, API-first future is not just a theoretical framework; it is a practical philosophy guiding MoonPay towards a more decentralized and user-centric crypto landscape. By championing non-custodial solutions and enhancing developer capabilities, the company aims to redefine how digital assets are integrated into our daily lives.
As the market matures and users demand more from their cryptocurrency experience, the focus on autonomy and security will only intensify. For Soto-Wright and MoonPay, the journey towards a decentralized future is not merely about technology—it’s about empowering users and fostering a new era of trust in the financial system. In this promising landscape, the decentralized ethos of cryptocurrency stands to serve as the bedrock for a more equitable and accessible financial world.
Ivan Soto-Wright of MoonPay envisions a future for cryptocurrency that emphasizes non-custodial solutions and an API-first infrastructure. He believes that as the crypto space continues to evolve, creating pathways that prioritize user sovereignty and security will be crucial. By leveraging APIs, developers can craft seamless integrations that enhance user experiences while maintaining control over their own assets. This approach not only empowers individuals but also opens up new avenues for innovation within the ecosystem, making it accessible and user-friendly for mainstream adoption. As the industry matures, such forward-thinking strategies may define the next wave of cryptocurrency technologies and services.