This technology facilitates quicker transfers and lowers operating costs. The market is primarily driven by growing connectivity with the ecosystem of the financial services industry, growth in the market cap of cryptocurrencies, and ICOs. By 2028, the scope of the global fintech market is predicted to be USD 332.5 billion, and it is projected to expand at a 19.8% compound annual growth rate over that time. In 2021, the market had a value of USD 112.5 billion. The desire for more economical financial services that offer accessibility and a faster speed might be cited as the second factor in the development of financial technology. By offering innovative and safe financial services, fintech startups met the demand for increased security from investors. It mostly makes use of disruptive and creative technologies to deliver financial services. One of the names used most frequently for research in the finance sector nowadays is "financial technology." FinTech, or financial technology, is the application of cutting-edge contemporary technology to the world of money. "You basically generate an invoice, you wire money for that invoice, and then we settle the transaction," he explained. "We've tried to make it as similar as a process as you would be interacting with your private bank," says Ivan Soto-Wright, the CEO of MoonPay. MoonPay takes care of purchasing the needed cryptocurrency, then purchasing the tokens and billing the consumer. MoonPay then calculates a baseline price for the digital asset using its uncommon tools. All that is required of the user is to set a budget. The procedure is significantly simpler using MoonPay. In a traditional exchange, you'd need to first get a wallet, then add an appropriate amount of cryptocurrency, and then complete the transaction - a simple but time-consuming operation. When celebrities began purchasing artworks from the renowned Bored Ape Yacht Club NFT collection, the platform acquired even more traction. Users might buy their favourite NFTs without having to worry about cryptocurrency. When non-fungible tokens or NFTs first became popular, MoonPay was the go-to payment provider. As per the company's website, the platform has over 10 million active users in 160 countries and has processed about $3 billion in transactions. MoonPay is a popular solution among both ordinary investors and celebs because of its ease.
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Only with 2 young co-founders - Ivan Soto-Wright and Victor Faramond - the firm set out to design a secure and very simple software solution that would allow individuals from all around the world to engage in the largest tech transformation since the world wide web.
MoonPay was founded in 2019 with a single goal in mind: to accelerate the usage of cryptocurrencies. This payment service, which was launched in 2019, has risen in importance as a result of the booming NFT sector. People can use debit cards, credit cards, and a variety of other major payment methods to purchase and sell cryptocurrencies and NFTs. MoonPay is a cryptocurrency payment facilitator. MoonPay - Future Plans MoonPay - About and How it Works? Greater Miami Area, East Coast, Southern USįinancial Services, FinTech, and Mobile Payments MoonPay - Company Highlights Startup Name Read this article further to read more about MoonPay. The firm was created in 2019 and is situated in Miami, Florida. Its on-and-off-ramp line of products allows users to modify between government-issued currency and cryptocurrencies using different payment methods, including credit and debit cards, Apple Pay, Google Pay, Samsung Pay, and local bank transfers, MoonPay accepts payments, fights fraud in over 160 countries, and is used by 300+ prominent wallets, websites, and applications. MoonPay is a fintech startup that develops a cryptocurrency payment system. It allows businesses to accept cryptocurrency payments for a variety of products and services. For debit and credit card transactions, it also has a worldwide monetary onramp. Merchants may accept crypto-based payments for a variety of goods and services thanks to technology-based crypto payments and fraud protection solutions. It's a major topic not only among investors but also in mainstream culture, owing to everyone including long-time investors like Elon Musk to that youngster from high school on Twitter. The Public's faith in crypto has exploded in the meantime. The content in this post has been approved by Moonpay. Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations.
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