NYSE parent ICE in talks to invest in MoonPay at $5B valuation
Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), is in discussions to invest in crypto payments firm MoonPay as part of the company’s latest fundraising, Bloomberg reported, citing people familiar with the matter. MoonPay is seeking to raise capital at a $5 billion valuation, and the size of ICE’s potential investment was not disclosed.
The talks follow ICE’s $2 billion investment in prediction platform Polymarket in October, a round that valued Polymarket at $9 billion.
MoonPay, founded in 2019, provides financial infrastructure that facilitates buying, selling and using cryptocurrencies via fiat on- and off-ramps. The company enables crypto purchases through traditional payment methods such as debit and credit cards and offers services to wallets, exchanges and enterprises integrating crypto payments.
Polymarket founder Shayne Coplan (left) and Intercontinental Exchange CEO Jeffrey Sprecher (right) in front of the New York Stock Exchange after the $2 billion deal. Source: Shayne Coplan
Wall Street and crypto continue to converge
In March, stablecoin issuer Circle and ICE began exploring potential integration of stablecoin functionality across ICE’s clearing and data services. Products under evaluation include Circle’s USDC (USDC) dollar-pegged stablecoin and its tokenized money market fund, US Yield Coin (USYC), an onchain yield-bearing product backed by short-term US Treasurys.
In December, the U.S. Securities and Exchange Commission (SEC) authorized the Depository Trust and Clearing Corporation (DTCC) to begin offering tokenized bonds and stocks.
Real-world asset (RWA) tokenization refers to representing physical or traditional assets on a blockchain, enabling faster settlement times, cross-border transactions, and the use of assets as collateral in decentralized finance (DeFi) applications.
Volume of 12-month government securities settled using the DTCC’s infrastructure. Source: DTCC
DTCC processed about $3.7 quadrillion in settlement volume in 2024 and serves as core infrastructure for traditional finance, clearing transactions across equity, bond, fixed income and derivatives markets.
DTCC is expected to roll out tokenized trading services in the second half of 2026 and will mint some US Treasurys onchain using the Canton Network, a permissioned blockchain infrastructure designed for financial institutions.
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