Nyse Parent In Talks To Invest In Crypto Company Moonpay: Report

The discussions follow Intercontinental Exchange's $2 billion investment in prediction platform Polymarket in October.

Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), is in talks to invest in crypto payments company MoonPay as part of the company’s latest funding round.

MoonPay is seeking to raise funds at a $5 billion valuation, according to Bloomberg, which cited sources familiar with the deal and did not disclose the dollar amount of the potential investment.

In October, ICE invested $2 billion in prediction platform Polymarket, in a funding round that brought the company’s valuation to $9 billion.

MoonPay is a financial technology company that provides infrastructure for buying, selling and using cryptocurrencies through fiat on-ramps and off-ramps. Founded in 2019, it enables users to purchase crypto using traditional payment methods such as debit and credit cards, while offering services to wallets, exchanges and enterprises seeking to integrate crypto payments.

Cointelegraph reached out to ICE and MoonPay but had not received a response at time of publication.

The investment deals reflect the growing ties between crypto and Wall Street, as traditional financial institutions adopt blockchain technology and form partnerships with crypto companies.

Related: Acting CFTC chair to join MoonPay after leaving agency

Stablecoin company Circle and ICE began exploring a stablecoin integration with ICE’s various clearing and data services in March.

The products being tested for possible integrations 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.

Source: CoinTelegraph