MoonPay launches fiat-to-stablecoin accounts in New York

MoonPay has launched fiat-to-stablecoin virtual accounts in New York that let businesses convert incoming ACH and SWIFT payments into stablecoins and settle them directly to noncustodial wallets through a single API. The accounts are issued as named, dedicated bank accounts that receive fiat and automatically convert it into stablecoins for on-chain settlement.

The feature uses technology from Iron, which MoonPay acquired in 2025. MoonPay obtained a BitLicense, money transmitter licenses and a New York limited purpose trust charter from the New York State Department of Financial Services in 2025, clearing regulatory requirements to operate in the state.

Platforms can use the virtual accounts for payment, trading and treasury flows without maintaining prefunded balances or routing funds through multiple intermediaries. MoonPay has connected the capability to payroll and payments platforms including Deel and Paysafe, and the company said customers are adopting the service for payroll, treasury management, cross-border payouts and settlements for tokenized real-world assets.

Max von Wallenberg, chief executive of Iron, noted that launching in New York lets the firm pursue institutional clients that operate in a highly regulated financial center. He added that the product addresses demand from enterprises that need fiat-to-stablecoin settlement flows.

The launch comes amid wider integration of stablecoins into payment infrastructure. Some fintechs have added USDC rails to let businesses send, receive and convert stablecoins and fiat across many countries. Card networks and payments firms have rolled out stablecoin-linked cards and are testing on-chain settlement. One major card network reported an annualized stablecoin settlement run rate of about $4.6 billion as of December 2025. Another payments company agreed to acquire a banking-crypto services provider in a deal valued at up to $1.8 billion to extend links between traditional rails and blockchain transactions.

Stablecoins have a combined market capitalization of roughly $320 billion, reflecting institutional use for cross-border payouts and corporate treasury workflows. MoonPay’s virtual accounts are available in New York and aim to give businesses a single API to turn bank payments into on-chain stablecoins without maintaining multiple funded accounts across jurisdictions.