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Justin Bieber-Backed MoonPay Gets Irish Crypto License

2 mins
Updated by Geraint Price
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In Brief

  • Crypto exchange MoonPay, backed by celebrities like Justin Bieber, has secured a VASP license to operate in Ireland.
  • Other exchanges like Coinbase and Gemini also opened in Ireland after securing VASP licenses, showing a growing trend.
  • With an estimated growth to 1.2 million users by 2027, Irish crypto market offers significant opportunities for exchanges.
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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.

Click here to learn more about fiat onramps.

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.

Crypto users in Ireland. Source: Statista
Crypto users in Ireland. Source: Statista

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Harsh Notariya
Harsh Notariya excels in delivering SEO-optimized crypto news under tight deadlines. Previously, as a Growth Marketer at Sporty and a Community Consultant at Totality Corp, he significantly boosted community engagement and followers. Harsh also crafted engaging content for top crypto influencer Shivam Chhuneja, blending meme references for an educational yet fun experience. His versatile skills make him a notable figure in crypto journalism.
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