TechFlow news, March 20 — According to The Block, crypto payment company MoonPay announced it has secured a $200 million revolving credit facility from Galaxy to better manage surges in transaction volume and peak liquidity demands.
"This revolving credit facility is designed to provide short-term funding during periods of extreme liquidity demand, such as what we experienced during the TRUMP token launch. It's not intended for taking on long-term debt," MoonPay CEO Ivan Soto-Wright said in an interview.
During the TRUMP meme coin launch, a surge in demand outside traditional banking hours forced MoonPay to urgently raise $160 million, at which time Galaxy and Ripple, the XRP-focused firm, stepped in to assist.
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