The parent company of the New York Stock Exchange, ICE, is in talks to invest in the cryptocurrency payment company MoonPay, with a target valuation of approximately $5 billion

According to Bloomberg, sources have revealed that the parent company of the New York Stock Exchange, Intercontinental Exchange (ICE), is in talks to participate in a funding round for cryptocurrency payment company MoonPay Inc., which is nearing completion of this financing round with a target valuation of approximately $5 billion. ICE did not immediately comment on the negotiations, and MoonPay also declined to comment.

MoonPay was founded in 2019, and its software helps users more easily convert between fiat currency and cryptocurrency. At the end of 2021, as the cryptocurrency bull market was nearing its peak, the company's previous funding round valued it at $3.4 billion.