Monat: März 2025

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MoonPay secures Money Transmitter License (MTL) in Wisconsin

  • MoonPay secures Wisconsin Money Transmitter License (MTL).
  • Wisconsin is the 46th US state to grant MoonPay an MTL.
  • MoonPay has also been making strategic acquisitions to enhance its crypto services.

In a significant step toward expanding its footprint across the United States, cryptocurrency payment platform MoonPay has secured a Money Transmitter License (MTL) from the Wisconsin Department of Financial Institutions.

Announced on March 14, 2025, this approval marks a milestone in MoonPay’s ongoing efforts to bring its services to more American users.

With this license, Wisconsin residents can now tap into MoonPay’s offerings, including the ability to deposit funds into MoonPay Balance for fee-free crypto purchases, barring ecosystem and network fees.

Leveraging the growing crypto demand in Wisconsin

Wisconsin, the 20th most populous state in the nation, has shown a burgeoning interest in cryptocurrency adoption. Notably, it made headlines last year as the first state government to purchase Bitcoin (BTC), signaling a progressive stance toward digital finance.

MoonPay’s entry into the state aligns with this trend, providing residents with a seamless platform to engage with cryptocurrencies.

The license enhances MoonPay’s ability to operate legally within Wisconsin, offering a secure and efficient way for users to bridge traditional finance and the decentralized world of crypto.

Notably, the Wisconsin license brings MoonPay’s total count of Money Transmitter Licenses (MTLs) to 46, reflecting its aggressive push to secure regulatory approvals across the US. This follows recent licenses obtained in states like Texas, where the company expanded services late last year.

Ivan Soto-Wright, MoonPay’s co-founder and CEO, emphasized the importance of this milestone, stating, “With this license, we reinforce our commitment to compliance and consumer-first innovation.” He added that the approval strengthens MoonPay’s position as a fully regulated platform, a critical factor in building trust among users and regulators alike.

It is important to note that MoonPay’s focus on compliance comes at a time when the cryptocurrency industry faces increasing scrutiny from US regulators, although there has been some reprieve since Donald Trump assumed office.

By proactively securing MTLs, MoonPay positions itself as a leader in the space, distinguishing itself from competitors that have struggled with regulatory hurdles.

MoonPay has been expanding its reach through strategic acquisitions

Beyond its regulatory achievements, MoonPay has been bolstering its capabilities through strategic acquisitions.

Recently, the company acquired Iron, a stablecoin infrastructure startup, to enhance its enterprise payment solutions. This move, aimed at facilitating instant and low-cost stablecoin transactions, marks MoonPay’s second major acquisition in two months.

In January, MoonPay purchased Helio, a crypto payment firm that has processed over $1.5 billion in transactions since its inception, for approximately $175 million.

These acquisitions highlight MoonPay’s ambition to bridge traditional and decentralized finance, offering users a more robust and versatile platform.

Notably, the integration of Helio’s technology and Iron’s stablecoin expertise positions MoonPay to meet the needs of both individual consumers and enterprise clients. For Wisconsin residents, this could translate into an even richer crypto experience as MoonPay rolls out enhanced features.

The post MoonPay secures Money Transmitter License (MTL) in Wisconsin appeared first on CoinJournal.

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REX Shares launches REX Bitcoin Corporate Treasury Convertible Bond ETF

  • REX Shares has launched BMAX ETF for Bitcoin treasury bonds.
  • BMAX offers debt stability and equity upside via Strategy.
  • The fund carries risks like volatility and regulatory scrutiny.

On March 14, 2025, REX Shares, a Miami-based innovator in exchange-traded products, unveiled a groundbreaking financial instrument: the REX Bitcoin Corporate Treasury Convertible Bond ETF, trading under the ticker NASDAQ: BMAX.

This first-of-its-kind fund offers investors a unique opportunity to tap into convertible bonds issued by companies that hold Bitcoin (BTC) on their balance sheets.

With Bitcoin’s price climbing 2.1% to $83,400 and Strategy (formerly MicroStrategy) gaining 5.1% in morning trading on launch day, the timing underscores growing interest in Bitcoin-linked corporate strategies.

A convertible Bitcoin treasury bond for retail investors

The concept behind BMAX traces back to a playbook pioneered by Michael Saylor, Chairman of Strategy. His company famously began stacking Bitcoin on its balance sheet, funding the purchases partly through convertible bonds and new stock offerings.

Other firms followed suit, creating a niche asset class that blends the stability of debt with the growth potential of equity.

However, until now, these bonds were largely out of reach for individual investors, locked behind complex market barriers. BMAX changes that, packaging this strategy into a single, actively managed ETF that simplifies access for retail investors and advisors alike.

Greg King, CEO of REX Financial, hailed the launch of the REX Bitcoin Corporate Treasury Convertible Bond ETF as a milestone. “BMAX is the first ETF giving everyday investors a shot at convertible bonds tied to companies embracing Bitcoin as a treasury asset,” he said.

With over $6 billion in assets under management, REX is no stranger to alternative-strategy ETFs, and BMAX fits squarely into its mission of delivering innovative exposure. The fund’s concentrated focus zeroes in on issuers like Strategy, a heavyweight in Bitcoin-backed debt, offering a regulated way to ride the crypto wave without directly owning Bitcoin.

What sets BMAX apart is its hybrid appeal. Convertible bonds, by nature, carry traits of both debt and equity. They provide a steady income stream like traditional bonds but can convert into stock, capturing upside if the issuing company’s share price soars—say, on a Bitcoin rally.

For investors wary of Bitcoin’s wild price swings, BMAX offers a more conservative entry point, balancing debt’s relative calm with equity’s potential kick. It’s a middle ground for those intrigued by crypto but hesitant to dive in headfirst.

BMAX’s risks

Still, BMAX isn’t without its hazards. The fund’s prospectus lays out a laundry list of risks, from Bitcoin’s notorious volatility to the unique challenges faced by companies like Strategy.

These “Bitcoin Corporate Treasury Companies” grapple with speculative hype, regulatory scrutiny, and accounting quirks—like impairment losses when the Bitcoin (BTC) price dips.

Strategy, a key holding due to its outsized market cap, adds its own layer of risk, tied to both its Bitcoin hoard and its legacy software business.

Interest rate shifts, liquidity concerns, and even tax implications (BMAX is taxed as a C-corporation, unlike most ETFs) further complicate the picture.

However, despite the risks, BMAX signals a maturing crypto market where indirect exposure is gaining traction. Distributed by Foreside Fund Services, LLC, and backed by REX’s expertise, the ETF opens a door to a strategy once reserved for institutional players.

As Bitcoin cements its role in corporate treasuries, BMAX offers a fresh lens on the intersection of traditional finance and digital assets—proving that innovation, even in ETFs, keeps pace with a fast-evolving world.

The post REX Shares launches REX Bitcoin Corporate Treasury Convertible Bond ETF appeared first on CoinJournal.

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Bitcoin ETF investors hold strong despite a 25% BTC price drop: Here’s why

  • US Bitcoin ETFs collectively manage $115 billion in assets
  • Since mid-February, Bitcoin ETFs have witnessed total outflows of nearly $5 billion
  • Bitcoin’s decline continues as selling pressure intensifies

Even as Bitcoin’s price has tumbled 25% since the start of 2025, a staggering 95% of investors in US spot Bitcoin ETFs have held firm, resisting the urge to sell.

Despite market volatility and macroeconomic uncertainties, Bloomberg data suggests that the overwhelming majority of ETF holders remain unfazed, showcasing strong conviction in Bitcoin’s long-term potential.

Bitcoin ETFs show resilience 

Bloomberg ETF strategist James Seyffart reported that inflows into Bitcoin ETFs have slightly declined to $35 billion, down from their $40 billion peak.

However, this still represents over 95% of investor capital remaining in ETFs, even as Bitcoin’s price struggles.

Institutional investors, including Goldman Sachs, continue to maintain significant exposure, with more than $1.5 billion invested in Bitcoin ETFs.

As of now, US Bitcoin ETFs collectively manage $115 billion in assets, underscoring the staying power of both retail and institutional investors despite the crypto market downturn.

Bitcoin ETF outflows persist

Since mid-February, Bitcoin ETFs have witnessed total outflows of nearly $5 billion.

On March 13 alone, outflows reached $135 million, according to Farside Investors.

However, BlackRock’s iShares Bitcoin Trust (IBIT) remains an exception, attracting net inflows of $45.7 million amid the broader sell-off.

Bitcoin price faces pressure 

Bitcoin’s decline continues as selling pressure intensifies due to macroeconomic concerns, including the Trump administration’s ongoing tariff battle.

While BTC briefly surged above $84,000 following the release of US CPI data on Wednesday, it failed to hold above key resistance levels.

At press time, Bitcoin is trading at $81,953, down 1.56% on the day, with daily trading volume dropping 22% to under $30 billion.

According to Coinglass data, 24-hour liquidations have spiked to $75 million, with $52 million in long positions being wiped out.

CryptoQuant CEO Ki Young Ju noted that Bitcoin demand appears “stuck” at current levels but emphasized that it is still “too early to call it a bear market.”

Long-term Bitcoin holders continue accumulating

Despite Bitcoin ETF outflows, on-chain data reveals that long-term holders are accumulating more BTC.

Crypto analyst Ali Martinez reported that these investors have added over 131,000 BTC to their wallets in the past month alone, signaling confidence in Bitcoin’s long-term trajectory.

With Bitcoin’s price volatility and ETF outflows persisting, the coming weeks could be crucial in determining whether investors’ diamond hands will hold firm or if selling pressure will intensify.

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Another win for Coinbase as Vermont drops its crypto staking case against exchange

  • Paul Grewal, Coinbase’s chief legal officer, said their “work isn’t over”
  • Vermont issued a Show Cause Order shortly after the SEC filed a lawsuit against Coinbase in 2023
  • The SEC dropped its lawsuit against Coinbase in February

The US state of Vermont has dropped its legal case against Coinbase over its staking services, earning the exchange another significant victory.

In a post on X, Paul Grewal, Coinbase’s chief legal officer, said: “As we have always said: staking services are not securities. We applaud Vermont for embracing progress and providing clarity for its citizens who own digital assets.”

Grewal added that their “work isn’t over” and that “other states with staking actions should take a page from Vermont’s playbook.”

News of this comes after the US Securities and Exchange Commission (SEC) dropped its lawsuit against Coinbase in February. The agency sued Coinbase in 2023, accusing it of operating as an unregistered securities exchange.

Show Cause Order

Vermont was one of 10 states, including Alabama, California, Illinois, Kentucky, Maryland, New Jersey, South Carolina, Vermont, Washington, and Wisconsin, that took legal action against Coinbase in 2023. At the time, they argued that the platform’s staking services met the definition of securities under their laws.

In Vermont’s Department of Financial Regulation document, it reads:

“In light of the dismissal of the Federal Action and likelihood of new federal regulatory guidance, the Division believes it would be most efficient and in the best interests of justice to rescind the pending Show Cause Order, without prejudice.”

A show cause order is when a court orders a party to explain why a specific action shouldn’t be enforced. In Coinbase’s case, the show cause order argued that the platform was offering its users staking services without a license and, as such, violated securities laws.

However, since the new administration has entered the White House, the SEC has switched tracks, taking a more pro-crypto approach. Former SEC chair Gary Gensler has left and Mark Uyeda is helming the agency as acting chair. Trump has already named Paul Atkins as the incoming SEC chair.

Other lawsuits the SEC has dropped include those against Kraken, Robinhood Crypto, and Uniswap.

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