MoonPay has launched a new product called MoonPay Deposits, in hopes of making wallet-to-wallet crypto transfers easier by automatically handling swaps, bridging, and cross-chain routing behind the scenes.
The company said the service allows users to fund applications with crypto from an existing wallet, regardless of which token or blockchain they hold.
Instead of manually ensuring the correct asset and network are selected, users can send supported crypto and receive the final balance in their chosen asset.
MoonPay Deposits is now available in the self-custodial TON Wallet, part of Wallet in Telegram’s dual-wallet setup, giving more than 100 million users a new way to move funds into the Telegram-based ecosystem.
“Users shouldn’t have to buy new assets or navigate complex steps just to fund an account,” said CEO and co-founder Ivan Soto-Wright, adding that the product simplifies transfers by letting people use the crypto they already own.
The service is designed to reduce friction for users entering the TON ecosystem, which previously required holding assets on the TON blockchain before funding a TON Wallet account.
With the new deposit flow, users can send Bitcoin and other assets from external networks, with MoonPay automatically converting them into TON or other supported tokens.
Andrew Rogozov, founder and CEO of The Open Platform and Wallet in Telegram, said the goal is to make entering and exiting the TON ecosystem as seamless as using a custodial wallet while maintaining self-custody.
The company said the product operates entirely on its infrastructure and integrates natively into partner environments, supporting deposits from detection through final asset delivery.
Users can access MoonPay Deposits directly through TON Wallet by selecting a deposit option, choosing the token and network they want to send from, and transferring funds to a generated address.
MoonPay then manages the routing and credits the user in the correct asset.
Intercontinental Exchange considering investing in MoonPay
Two months ago, Intercontinental Exchange (ICE), owner of the New York Stock Exchange, entered talks to invest in the crypto payments firm.
The potential funding round was expected to value MoonPay at around $5 billion, up from its previous $3.4 billion valuation. The company had recently strengthened its regulatory standing by securing a Limited Purpose Trust Charter from the New York Department of Financial Services, alongside its existing BitLicense.
The company also announced that CFTC Acting Chair Caroline Pham would join as chief legal and administrative officer.
Source: https://bitcoinmagazine.com/news/moonpay-launches-crypto-deposits-feature
