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ICE in Talks to Invest in MoonPay, Could Boost Valuation to $5 B

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  Published in Stocks and Investing on Thursday, December 18th 2025 at 16:49 GMT by cryptonews

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NYSE Parent ICE in Talks to Invest in MoonPay, Boosting the Crypto‑Payments Platform to a Near‑$5 B Valuation

A fresh wave of institutional interest in cryptocurrency infrastructure has emerged from an unexpected quarter: Intercontinental Exchange (ICE), the operator of the New York Stock Exchange (NYSE), is reportedly in advanced discussions to place a minority stake in MoonPay, the London‑based crypto‑payments company. If the deal goes through, MoonPay’s valuation would rise to approximately $5 billion, up from its most recent $4.5 billion post‑Series B funding round. The potential partnership has already sparked buzz in the crypto‑finance community, signaling a broader willingness by legacy financial firms to back next‑generation payment tech.

1. The Players

Intercontinental Exchange (ICE)

ICE is a global exchange and clearinghouse that operates major trading platforms for equities, fixed income, derivatives, and commodities. Beyond NYSE, ICE has grown into a diversified financial services conglomerate, adding electronic trading, clearing, data, and risk‑management solutions. ICE has long been experimenting with blockchain and digital‑asset initiatives. In 2020 it launched the ICE Exchange for cryptocurrency assets, and in 2023 it announced a “Crypto‑Payments Unit” that will help institutional clients transact in digital assets.

MoonPay

MoonPay is a “crypto‑payments gateway” that allows users to buy and sell cryptocurrencies with a simple card or bank‑transfer interface. Founded in 2018, the company has grown to support a large portion of the global retail crypto‑market. MoonPay’s service integrates with over 700 apps and platforms—including Coinbase, Binance, and major gaming and e‑commerce sites—helping bring fiat‑to‑crypto (and vice‑versa) flows to mainstream consumers. Its flagship product, MoonPay Wallet, offers a seamless, regulated, and user‑friendly experience for buying crypto with a credit card or debit card.

2. What the Deal Could Look Like

While ICE has not yet disclosed the precise terms, sources suggest that the exchange could invest anywhere between $30 million and $50 million for a minority equity stake (likely ranging from 10‑20 %). The investment would come at a valuation of roughly $5 billion. That would mark a 10‑15 % upside over MoonPay’s last round.

Key elements of the potential partnership include:

1. Capital Injection – The funds would fuel MoonPay’s growth plans in Asia and Latin America, where regulatory frameworks are still catching up, and help scale its merchant‑onboarding infrastructure.

2. Regulatory Guidance – ICE’s compliance expertise and global regulatory network would be invaluable for MoonPay, which operates in a highly regulated environment. ICE could help MoonPay navigate local KYC/AML standards, ensuring smoother cross‑border transactions.

3. Technology Sharing – ICE’s proprietary market data, risk‑management tools, and clearing services could be leveraged by MoonPay to provide more robust settlement and liquidity solutions. In turn, MoonPay’s consumer‑facing tech stack might help ICE develop future digital‑asset products.

4. Strategic Channel – ICE could act as a distribution partner, promoting MoonPay’s services to institutional clients, asset managers, and fintech firms that already use ICE’s infrastructure.

3. Why This Matters for Crypto‑Finance

Institutional Validation

ICE’s interest signals that traditional exchanges are increasingly acknowledging the importance of crypto‑payments for the next wave of retail and institutional demand. By aligning with a fintech that sits at the intersection of fiat and crypto, ICE positions itself to benefit from the growth of the broader digital‑asset ecosystem.

Accelerated Adoption

MoonPay’s primary focus is consumer acquisition. A partnership with ICE could enable the company to secure regulatory compliance in jurisdictions where the exchange already operates, speeding up rollout into new markets. This, in turn, could broaden the user base for crypto‑payments and push more retail volume onto ICE’s digital‑asset platforms.

Competition with Other Exchanges

The crypto‑exchange space is fiercely competitive. ICE’s willingness to invest in MoonPay hints at a new strategy: rather than simply listing tokens, ICE could integrate payments, custody, and liquidity services into a unified offering. This could give ICE an edge over competitors like Nasdaq, which has announced a partnership with Coinbase to bring crypto listings to its platform.

4. The Context: Recent MoonPay Funding

MoonPay’s latest funding event, announced in early March, saw the company raise $100 million in a Series B round that pushed its valuation to $4.5 billion. The round was led by institutional investors such as Fidelity, the investment arm of the NYSE parent ICE, and a private‑equity firm. That same round saw MoonPay announcing plans to open new payment centers in Singapore, Mexico City, and Dubai.

The fact that ICE had already been involved in MoonPay’s funding cycle is a noteworthy pre‑condition for this potential equity investment. The exchange’s early stake underscores a long‑term strategic interest in the company’s product suite.

5. Risks and Considerations

• Regulatory Uncertainty – Despite MoonPay’s strong compliance record, the regulatory landscape for crypto‑payments remains volatile, especially in emerging markets. ICE will need to carefully evaluate the legal exposure associated with such an investment.

• Market Competition – Payment platforms like Coinbase, BitPay, and Revolut are also expanding their crypto‑services. ICE must ensure that MoonPay’s technology remains differentiating.

• Execution Risk – The partnership’s success hinges on effective integration of technology, compliance, and distribution channels, which can be technically and culturally challenging.

6. Potential Impact on ICE and the Broader Market

If the deal materializes, ICE could become one of the first major exchange operators to own a stake in a leading crypto‑payment gateway. This could pave the way for:

1. Integrated Digital‑Asset Solutions – ICE could offer a one‑stop platform for trading, clearing, and buying crypto for both institutional and retail clients.

2. Increased Liquidity – A partnership with MoonPay would bring higher transaction volumes directly into ICE’s clearing houses, creating new revenue streams.

3. Market Credibility – ICE’s backing could further legitimize MoonPay, potentially accelerating its global expansion and drawing more merchants and users.

4. Competitive Advantage – By embedding a crypto‑payment solution into its ecosystem, ICE could differentiate itself from Nasdaq, CME, and other exchanges that are still in the early stages of digital‑asset service integration.

7. Conclusion

The news that ICE is in talks to invest in MoonPay marks a significant milestone for the crypto‑payments sector. It demonstrates a clear institutional appetite for infrastructure that bridges fiat and digital assets, and underscores how legacy financial institutions are beginning to build deeper ties with fintech companies that are spearheading the consumer side of crypto adoption.

While the deal is still pending, the potential implications are far‑reaching. From accelerating regulatory compliance for MoonPay to offering ICE’s clients a seamless crypto‑payments experience, this partnership could reshape how traditional exchanges interact with the burgeoning digital‑asset economy. As both parties negotiate terms, the market will be watching closely, eager to see whether this collaboration sets a new precedent for the integration of crypto‑payments within established financial institutions.