MoonPay registers in Australia to offer digital currency exchange services

By Gloria Mathias

MoonPay, a Web3 infrastructure company, has announced that it is registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC) to provide digital currency exchange services in Australia.

This will help MoonPay establish local payment processing relationships across the country and consequently enable Australian payment methods. As a result, MoonPay may allow its users in Australia to use alternative payment methods such as Osko and PayID.

Crypto asset adoption continues to grow in Australia. A recent report revealed that one in five Australian adults currently or previously owned crypto assets and the country launched its first Bitcoin ETF in June.

As a registered company, MoonPay will comply with Australia’s AML/CTF Act, the main piece of government legislation that regulates AUSTRAC’s functions. This includes MoonPay’s adherence to reporting, KYC, and record-keeping requirements.

“MoonPay continues to advocate for simple and compliant exchange of crypto assets around the world,” said MoonPay co-founder and CEO Ivan Soto-Wright. “We’re thrilled to bring our services directly to Australian users, and we will continue engaging with regulatory bodies globally to encourage innovation while prioritizing compliance and consumer safety.”

To date, MoonPay has received registrations in the U.K., Ireland, Italy, Canada, and Australia, alongside 44 Money Transmitter Licenses to operate across the U.S.

MoonPay’s registration is not a license or endorsement by AUSTRAC. The value of crypto assets can go up or down, and there is a substantial risk of losing money buying, selling, holding, or investing in them.