MoonPay Secures $200 Million Revolving Credit Line from Galaxy Amid Liquidity Surge

MoonPay has secured a $200 million revolving credit facility from Galaxy to address urgent liquidity demands. This information was shared by co-founder Ivan Soto-Wright in an interview with The Block.

The arrangement was prompted by challenges during the launch of the meme coin associated with U.S. President Donald Trump. The company was forced to obtain $160 million quickly due to an overwhelming demand that coincided with the traditional banking holiday weekend. During that critical period, support came from Galaxy and Ripple.

“This revolving credit line is intended for short-term capital access during extreme liquidity needs, as was the case with the TRUMP. It is not meant for long-term debt obligations,” Soto-Wright explained.

During the launch of the «presidential» meme token, MoonPay struggled with «massive volumes» due to its liquidity being tied up in BlackRock accounts over the holiday weekend. With assistance from Galaxy and Ripple, the firm managed to accommodate the surge and attract 750,000 new customers.

According to Soto-Wright, following the U.S. presidential elections in November 2024, MoonPay experienced «incredible demand» for cryptocurrencies.

“When comparing the four months leading up to the elections with the four months after, our average daily volumes nearly doubled (+98%),” he stated.

This marks MoonPay’s first deal for a credit facility. Negotiations with Galaxy began several weeks prior, and the final agreement was signed on March 19. While the terms of the deal remain undisclosed, Soto-Wright indicated that MoonPay is «pleased» with the arrangement.

It’s worth noting that in January, the ethical implications of Trump’s cryptocurrency initiatives caught the attention of Congress, and in February, Public Citizen urged the Department of Justice and the U.S. Office of Government Ethics to investigate TRUMP for potential violations of federal corruption laws.