The goal of MoonPay’s new venture capital arm, MoonPay Ventures, is to encourage and fund Web3-based business creation.
MoonPay, a provider of Web3 infrastructure, has introduced its newest business endeavor, MoonPay Ventures. By teaming up with innovative new businesses, MoonPay hopes to transform the payment processing sector and pave the way for widespread use of Web 3.
Money isn’t the only focus of MoonPay Ventures. It’s all about finding common ground with fledgling businesses in the Web3 and financial technology industries. To what end? The goal is to form partnerships with people who are working diligently on Web3 technologies that may revolutionize and improve existing business models.
MoonPay Ventures offers more than simply financial support to the startups who join. MoonPay has over 500 industry partners, including market leaders in Layer 1 and Layer 2 blockchains, as well as leading marketplaces, wallets, and exchanges, all of which will be available to them. By working together, entrepreneurs will have the resources to advance Web3 technology acceptance and speed up the development of their projects.
Under Abhay Mavalankar’s direction, MoonPay Ventures acts as part of the company’s corporate development division. Mavalankar has extensive experience in the fields of investment banking and venture capital, having worked with industry heavyweights such as Morgan Stanley and Cisco Investments.
According to MoonPay CEO and co-founder Ivan Soto-Wright’s interview with Benzinga, the company’s founding principles are ingrained in the company’s very makeup. MoonPay Ventures, our investment arm, has been established to further assist our partners in developing cutting-edge applications for Web3. Working with leaders in the field allows us to accelerate the adoption of Web3 and benefit the whole ecosystem.
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