Crypto Wallets Are Set to Replace Banks, Says MoonPay CEO

• Cryptocurrency wallets will replace bank accounts
• MoonPay accelerates expansion with APIs and acquisitions
• DEXs gain strength and users seek more autonomy

On April 23, 2025, Ivan Soto-Wright, CEO and co-founder of MoonPay, highlighted that cryptocurrency wallets are on their way to replacing traditional bank accounts. With over 30 million users in 160 countries, the company has established itself as an essential infrastructure for integrating fiat money with DeFi solutions, offering APIs that facilitate the use of crypto in everyday applications. said Ivan Soto-Wright to CoinDesk.

The executive explained that MoonPay is moving to a fully API-driven model, similar to Stripe, allowing developers to integrate cryptocurrency payments in a fluid and scalable way. According to Soto-Wright, the goal is to “package the convenience of a centralized exchange and put it in your own wallet.”

The $175 million acquisition of Solana-based payments processor Helio reinforces this strategy. The company remains focused on creating non-custodial experiences that simplify wallet usage, while working on solutions like “Balance,” which offers instant trading with deposited money, with no fees.

With a lean structure of around 300 employees, MoonPay maintains a fast pace of growth, with a 112% increase in revenues in one year and its best quarter recorded so far in 2025.

Soto-Wright also commented on the rise of decentralized exchanges (DEXs), which currently hold about 30% of the market. He predicts that these platforms will gain even more traction as users prioritize control over their own assets.

The company has also signaled future plans in the stablecoin sector. Although there is no official confirmation, indications of a stablecoin linked to MoonPay are present in the evolution of the Balance product.

Growth through acquisitions will also continue to be part of the company's strategy, focusing on teams with an entrepreneurial profile and products aligned with the company's long-term vision in the cryptocurrency payments sector.