Celebrity-backed crypto exchange MoonPay has been awarded an Irish Virtual Assets Service Provider (VASP) license.
According to the official announcement, MoonPay can now facilitate an exchange between fiat and crypto or vice versa with a VASP registration in Ireland.
MoonPay Enters Ireland a Year After Raising Funds From Celebrities
Last year, it raised over $86 million from celebrities such as Justin Bieber, Snoop Dogg, Paris Hilton, Ashton Kutcher, Matthew McConaughey, Bruce Willis, Gwyneth Paltrow, and Steve Aoki.
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MoonPay is not the only crypto exchange eyeing expansion in Ireland. Last year, Coinbase also secured a VASP license to serve retail and institutional customers in the country. Before that, in July 2022, Gemini became the first exchange to register as a VASP in Ireland.
The development comes as around one-fifth of Irish young adults prefer crypto investments.
According to Statista, there were 692,000 crypto users in Ireland in 2022. However, the figure is estimated to almost double by 2027, with around 1.2 million users.
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