ICE eyes $5b bet on MoonPay as Wall Street dives deeper into crypto

Intercontinental Exchange, the parent company of the New York Stock Exchange, is reportedly eyeing an investment in crypto payments firm MoonPay, which is targeting a $5 billion valuation in its latest funding round.

MoonPay, which helps users hop between dollars and digital coins, has been busy this year snapping up startups and launching a stablecoin business.

The move comes as Wall Street increasingly wades into digital assets, encouraged by a friendlier political climate under President Trump. Adding to the star power, former acting CFTC chair Caroline Pham is joining MoonPay as chief legal officer.

With crypto venture funding hitting nearly $19 billion in 2025, MoonPay’s $5 billion fundraising spree is another sign that Wall Street is getting serious about betting on the future of digital money.

Meanwhile, Exodus is preparing to launch a U.S. dollar-backed stablecoin in partnership with MoonPay and infrastructure provider M0, enabling everyday payments and self-custody within its Exodus Pay app.

Unlike traditional stablecoins built for trading, the token will be fully reserved with dollar deposits and integrated directly into the wallet, allowing users to hold, send, and spend balances without routing through external exchanges.

MoonPay will handle issuance and reserve management, leveraging its existing payments network, while M0 provides the underlying infrastructure.

The stablecoin is expected to go live in early 2026, pending regulatory approval, with additional details—including supported blockchains and the token’s name—set to be announced closer to launch.