MoonPay has announced that it has received the approval for registration as a Virtual Asset Service Provider. The approval has been granted by the Central Bank of Ireland, and its jurisdictions pertain only to the said region. Securing the approval allows MoonPay to provide its exchange services to the residents of Ireland.
That includes enabling them to swap cryptocurrencies and fiat currencies among each other. The idea to expand in Ireland is driven by the mission of providing a simple solution to users, allowing them to seamlessly exchange digital assets and fiat currencies. Largely, the goal is to provide an enhanced experience when it comes to purchasing digital assets.
MoonPay has always sought to engage with the community only after seeking all the necessary approvals from authorities. Following the development, MonPay has expressed its commitment to the residents of Ireland that the platform will continue to protect them from all possible threats. This majorly includes data theft and fund theft. Needless to say, the announcement covers all other cybersecurity and crime issues.
In the announcement, Ireland has received a warm appreciation for the kind of landscape that it has developed for crypto ventures. MoonPay has talked about it in the announcement. It reads that the region features a dynamic landscape of finance and technology – a combination of which brings an exciting opportunity for the venture to operate.
Now that MoonPay has received the approval for a Virtual Asset Service Provider from the Central Bank of Ireland, it is looking forward to making a mark in the country and serving the residents of Ireland.
This development comes months after MoonPay launched its mobile application. It is a one-stop shop for managing crypto wallets and purchasing digital assets on the go. That pretty much summarizes the offerings of the MoonPay Mobile App. Now that the venture has received approval in Ireland, there is a strong possibility that MoonPay will aim to take the mobile app closer to the residents of the region.
Key features of the mobile app include wallet top-up, seamless transactions, and multi-chain accessibility.
Wallet top-top means that users can add funds to their digital wallets at any time. These funds are then utilized to purchase cryptocurrency or any other digital product/service as per their availability. Seamless transactions mean that a transaction to buy a cryptocurrency can be executed through a large number of payment options. These mostly include Apple Pay, Debit or Credit Cards, local bank transfers, and Google Pay.
Multi-chain accessibility gives users access to over a hundred digital assets like Ethereum, Bitcoin, etc. The launching of the app is an extension to the partnership between MoonPay and other players – OpenSea, MetaMask, and Fox Universal.
Furthermore, the goal of MoonPay is to boost the adoption of Web3 in partnership with brands, users, and creators. It plans on serving millions of customers – experienced or newcomers – with a well-planned guide to Web3 exploration.