MoonPay, a crypto payments provider, collaborated with Galaxy Digital CEO Mike Novogratz and Ripple Labs CEO Brad Garlinghouse to secure a loan of $160 million in USDC (a stablecoin) to ensure the success of the TRUMP meme coin launch. MoonPay's reserves were locked in traditional financial systems, posing a challenge in meeting the demand for the token via its mobile meme coin trading app, Moonshot. The loan allowed MoonPay to continue facilitating purchases of the TRUMP token and onboarded around 750,000 users during the launch week. The TRUMP token experienced significant trading volume and gained spot listings on major centralized exchanges. MoonPay repaid the loans in full once traditional financial players came online.



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