Crypto payments platform MoonPay secures Australian registration

MoonPay has registered with the Australian regulator to offer cryptocurrency exchange services with the aim of enabling local payment methods such as Osko and PayID for Australian users.

Crypto payments company MoonPay has officially registered with Australia’s financial intelligence agency AUSTRAC, paving the way for it to offer cryptocurrency exchange services nationwide.

The move is expected to help establish local payment processing relationships and give Australian users access to alternative payment methods such as Osko and PayID, MoonPay said in a September 12 blog post.

“[…] “One in five Australian adults currently or previously held crypto assets, and the country launched its first Bitcoin ETF in June.”

Geoffrey Lyons, senior editorial leader at MoonPay

No Australian license for now

With its AUSTRAC registration, MoonPay now has to comply with Australia’s anti-money laundering and counter-terrorism financing laws, which mandate reporting, know-your-customer protocols and record-keeping requirements. MoonPay co-founder Ivan Soto-Wright says the company plans to continue engaging with regulators globally.

In addition to its AUSTRAC registration, MoonPay also holds money transmitter licenses in the United Kingdom, Ireland, Italy, Canada, and 44 US states. The company noted that the registration was not a license or endorsement by the agency, but stressed that the move was an important step as it navigates the growing regulatory landscape in Australia’s crypto market.