#1495 Ivan Soto Wright | How Crypto Is Changing Payments Forever
Feb 28, 2025
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Ivan Soto Wright, Co-founder and CEO of MoonPay, dives into the metamorphosis of the payment landscape as cryptocurrencies gain traction. He discusses the rise of stablecoins and their global adoption, while addressing regulatory hurdles that could shape the future of finance. Insights into user behavior reveal how technology is crucial in simplifying crypto transactions. With MoonPay’s innovations, he outlines a vision for integrated AI and decentralized finance, predicting a future where crypto payments become mainstream.
Ivan Soto-Wright highlights that stablecoins have surpassed traditional payment networks, facilitating low-cost global transactions and addressing accessibility issues.
Soto-Wright emphasizes the importance of regulatory clarity in the crypto space to enhance consumer trust and innovation surrounding stablecoins.
Deep dives
Founding MoonPay and Early Insights
The founder and CEO of MoonPay, Ivan Soto-Wright, shares his journey into the cryptocurrency world, highlighting his early purchase of Bitcoin in 2012 after learning about it from a friend's thesis. This experience was pivotal, leading him from the world of institutional finance to recognizing crypto as a new asset class. With his insight into the development of wallets replacing traditional banking accounts, he envisioned a user-friendly, accessible on-ramp for consumers to engage with crypto more effortlessly. This vision laid the groundwork for MoonPay's creation, aiming to simplify the transaction process for both users and businesses alike.
Bootstrapping Success
Soto-Wright candidly explains his decision to bootstrap MoonPay rather than pursue external funding, attributing this choice to a lack of interest from investors during the company's early days. He believed in maintaining control over his business, focusing on delivering a quality product to customers instead of seeking immediate capital. This strategy proved fruitful as MoonPay became reputable for its seamless onboarding process, allowing users to make crypto purchases with minimal friction. The approach also led to a massive user base, with approximately 30 million people registered on the platform, effectively addressing the rapid growth of the cryptocurrency market.
The Role of Stablecoins in Global Adoption
Soto-Wright emphasizes the growing significance of stablecoins in the cryptocurrency landscape, citing that over $27 trillion in value was settled using stablecoins in the previous year, surpassing traditional payment networks like Visa and MasterCard. He points out that for many individuals outside the U.S., accessing dollar-denominated assets can be difficult, and stablecoins offer a viable solution by facilitating low-cost, speedy transactions globally. Regions such as Brazil exhibit advanced payment methods like PIX, showcasing the potential of alternative solutions in commerce. MoonPay’s integration with platforms like Shopify aims to broaden the reach of stablecoins, making everyday transactions in cryptocurrencies more commonplace.
Future Outlook and Regulatory Clarity
The discussion touches on the future of regulation within the cryptocurrency space, with Soto-Wright expressing optimism about a clearer framework that would define digital assets and validate stablecoins effectively. He suggests that regulatory clarity would foster consumer trust and pave the way for innovation, ensuring that companies remain compliant while developing new technologies. The need for a stablecoin legislation that assures consumers about the backing of stable assets speaks to the broader goal of making cryptocurrencies a mainstream payment method. By recognizing the importance of private sector involvement in stablecoin issuance, Soto-Wright advocates for innovation while maintaining regulatory oversight, aiming for a healthier ecosystem for digital currency.
Ivan Soto Wright is the Co-Founder & CEO of MoonPay. In this conversation we talk about what is going on with stablecoins, payments, various places around the world, how enterprises are beginning to get interested in allowing customers to pay in crypto, regulation, and where Ivan thinks the future looks like.
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