MoonPay has launched virtual fiat-to-stablecoin accounts in New York, enabling companies to convert funds coming in from bank rails such as ACH and SWIFT into stablecoins and settle them directly to non-custodial wallets via a single API.
The product is powered by technology provider Iron and allows platforms to create named, dedicated accounts that receive fiat coins and automatically convert them to stablecoins, enabling payments, trades and treasury flows without relying on upfront balances or multiple intermediaries.
According to Thursday’s report, the New York rollout follows MoonPay’s acquisition of Iron in 2025 and builds on integrations with platforms like Deel and Paysafe, extending stablecoin infrastructure to payroll and payment networks. announcement.
MoonPay says it obtained a BitLicense, money transfer license and New York Limited Purpose Trust Statute from the New York State Department of Financial Services in 2025, allowing it to offer the service in one of the most closely regulated cryptocurrency markets.
Source: MoonPay
The company said the accounts enable faster settlements and programmable payments by combining established banking rails with blockchain-based infrastructure in a single integration.
Max von Wallenberg, Iron’s CEO, told Cointelegraph that launching operations in New York allows the company to reach institutional clients operating in one of the most closely regulated financial centers. He said:
New York is the center of global finance – where the largest banks, asset managers and enterprises operate… The ability to conduct business here signals that we meet the highest regulatory and operational standards.
He added that demand for the product in other jurisdictions is driven by enterprise apply cases including payroll, treasury management and cross-border payments, as well as real-world tokenized asset issuers requiring fiat-to-stablecoin settlement flows.
Related: Stablecoins do not pose a threat to banks in the near future: Moody’s analyst
Stablecoins reduce dependency on prepaid accounts
Major payments companies and fintechs are increasingly integrating stablecoins into their payment infrastructure to streamline cross-border transactions and reduce reliance on prepaid accounts.
On Tuesday, Singapore-based fintech Nium integrated USDC payments via Coinbase, enabling companies to send, receive and convert stablecoins to fiat in over 190 countries through a single platform.
This setup enables companies to fund on-demand cross-border payments with stablecoins and settle in digital assets or local currencies, reducing the need to pre-fund accounts in multiple jurisdictions and streamlining global payment flows.
Card networks are also developing stablecoin-related payment infrastructure. In March, Bridge, owned by Visa and Stripe, launched stablecoin-linked cards in more than 100 countries and is testing onchain settlements that would allow transactions to be settled in digital assets rather than fiat. As of December 2025, Visa’s annual stablecoin settlement rate had reached $4.6 billion, according to a company spokesperson.
Mastercard also expanded its stablecoin capabilities by agreeing to acquire BVNK in a deal worth up to $1.8 billion. The acquisition aims to strengthen the ability to connect established payment rails with blockchain-based transactions, supporting apply cases including cross-border payments and business withdrawals.
According to DefiLlama, the total stablecoin market capitalization is approximately $320 billion data.
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