# MoonPay Obtains a $200 Million Line of Credit from Galaxy
As the crypto market warms up once more, MoonPay, a significant participant in the digital asset payment arena, has secured a $200 million revolving line of credit from Galaxy, a prominent digital asset monetary services enterprise. Canary Capital Requests ETF, PENGU Value Increases
According to an announcement shared with crypto.news, this capital infusion will provide MoonPay with the capital it requires to manage growing transaction volumes and power its global growth strategies.
With crypto activity on the upswing, there’s an increasing need for payment infrastructure that can keep pace. This latest funding move is all about guaranteeing MoonPay can deliver unbroken service.
CEO Ivan Soto-Wright emphasized how essential monetary flexibility is for satisfying growing demand.
He mentioned that the recent increase in crypto demand highlights the importance of a strong and scalable infrastructure. The line of credit from Galaxy will permit them to maintain a great user experience while satisfying growth demands.
This line of credit is perfectly timed for MoonPay, which concluded 2024 powerfully, achieving positive cash flow and a 112% year-over-year increase in net income.
The company has installed itself as a key participant in the crypto payment area, facilitating smooth transactions for users internationally.
With this funding, MoonPay is well-situated to capitalize on the increasing popularity of digital assets and reinforce its role in the evolving global crypto economy.
