MoonPay has been registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC) to provide digital currency exchange services in Australia.

This registration may allow the company to establish local payment processing relationships across the country. As a result, Australian users of MoonPay could have access to alternative payment methods, including Osko and PayID.

Meeting AML/CTF Requirements

Australia continues to see growth in crypto-asset adoption. A recent report indicated that one in five Australians has either currently or previously held crypto assets. In June, Australia launched its first Bitcoin ETF.

As a registered company, MoonPay will need to comply with the Anti-Money Laundering and Counter-Terrorism Financing Act. This legislation regulates AUSTRAC’s functions, and MoonPay will be required to meet reporting, , and record-keeping obligations.

Meanwhile, MoonPay has partnered with PayPal to offer a crypto purchasing option for users in the US, as reported by Finance Magnates. This service allows transactions through PayPal using wallet transfers, bank transfers, and debit cards, aiming to improve the accessibility and convenience of buying and trading cryptocurrencies.