“Moonpay has received a $ 200 million renewable credit line for emergency liquidity requests. The Block was told by the co-founder of the payment service Ivan Sotto Right. The agreement was concluded because of the difficulties that arose during the launch of US MEM, US President Donald Trump. At that time, the companies urgently raised $ 160 million against the backdrop of extremely high demand, which coincided with the weekends of traditional banks. In that situation, the support was provided by Galaxy and Ripple. […]”, – WRITE: Businessua.com.ua
Moonpay has received a $ 200 million renewable credit line for emergency liquidity requests. The Block told the co -founder of the payment service Ivan COMPLETE.
The agreement was concluded because of the difficulties that arose during the launch of US MEM, US President Donald Trump. At that time, the companies urgently raised $ 160 million against the backdrop of extremely high demand, which coincided with the weekends of traditional banks. In that situation, the support was provided by Galaxy and Ripple.
“This renewable credit line is designed for short -term access to capital at times of extreme liquidity needs, as it was with Trump. It is not intended to take long-term debt, ”the honeybee explained.
During the launch of the “presidential” meme-duct, Moonpay was difficult to cope with “giant volumes”, as the liquidity of the company was blocked in Blackrock’s accounts through a holiday weekend. With the support of Galaxy and Ripple, the company managed to cope with sharp growth and attract 750,000 new customers.
According to the Sota Right, after the US presidential election in November 2024, Moonpay faced “incredible demand” on cryptocurrency.
“If you compare four months before the election four months after, our average daily volumes have almost doubled (+98%),” he said.
Moonpay for the first time entered into a credit line agreement. Negotiations with Galaxy began a few weeks ago, and the final agreement was signed on March 19. The terms of the agreement are not disclosed, but host Right noted that Moonpay was “satisfied” by the agreement.
Recall that in January, the ethics of Trump’s cryptocurrency initiatives became interested in Congress, and in February, Public Citizen called on the Ministry of Justice and the US Ethics Ethics Office to begin investigation into Trump due to possible violation of federal corruption laws.
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