“Moonpay in its most simplistic sense is it’s the PayPal of crypto.” – 06:27
Remy Blaire is joined by Keith Grossman, the President of MoonPay, during the Money20/20 conference in Las Vegas to discuss the evolving landscape of digital assets, the rise of decentralized exchanges, and the implications of regulatory changes in the crypto space.
Remy begins by asking Keith about his recent trip to Washington D.C., where he attended the Republican Senate Banking Committee. Keith expresses optimism about the potential for establishing a clearer market structure for digital assets. He emphasizes the importance of regulating intermediaries like MoonPay while advocating for minimal regulation on developers and protocols. Keith articulates that the focus should be on fostering American innovation and job creation rather than imposing burdensome regulations.
The conversation shifts to MoonPay’s recent developments, particularly the acquisition of Helio, which has integrated with over 6,500 merchants. Keith explains that this acquisition is part of MoonPay’s strategy to enhance its offerings and streamline the user experience for partners. He highlights the company’s evolution from a simple fiat on-ramp to a comprehensive payment solution, trading platform, and stablecoin infrastructure provider.
As they discuss the upcoming panel titled “Crypto Payment Barriers Burning Down,” Keith shares his insights on the rapid evolution of payment systems. He notes that the financial landscape is becoming faster, more efficient, and cheaper, driven by new technologies and the integration of stablecoins. Keith stresses the need to remove friction from the payments ecosystem to facilitate its continued growth.
The dialogue also touches on the significant shift in the decentralized finance (DeFi) space, where the percentage of decentralized spot exchange volume has surged from virtually 0% to 34% in just three years. Keith explains that this trend reflects a debundling of centralized players and a growing preference for decentralized solutions among consumers.
To make these concepts more accessible, Keith likens MoonPay to the “PayPal of crypto,” serving as a compliant and regulated gateway for users to access various digital assets. He highlights the emergence of decentralized platforms, such as Polymarket, which have gained traction due to clearer regulatory frameworks.