Fulgur Ventures backs Pay with Moon because the team has solved an unglamorous but critical problem: turning bitcoin into spendable purchasing power without forcing users to navigate the legacy card networks themselves. Founded in New York in 2018 by Kenneth Kruger, Moon Technologies issues virtual Visa prepaid cards that can be purchased instantly using Bitcoin, Lightning, or stablecoins.

The product is deceptively simple. A user generates a virtual card on demand, funds it with crypto, and uses it across the millions of online merchants who accept Visa. There are no monthly fees, no enforced KYC for small denominations, and no behavioral compromise to use a Bitcoin-native checkout flow. Lightning settlement makes the experience feel instantaneous, the way digital money is supposed to feel.

This fits our Fulgur thesis on two axes. First, we look for teams using Lightning to abstract away frictions that have historically held bitcoin back as a medium of exchange. Second, we favor builders who deliver utility today rather than promises about a far-off future. Moon does both: every transaction is a quiet demonstration that bitcoin payments can be as smooth as any card swipe.

The market vision is large. As more consumers hold bitcoin and stablecoins as primary balances, the bridges to legacy commerce will be among the most valuable pieces of consumer infrastructure in the industry. Virtual cards solve the long tail of merchants who will never integrate native crypto checkout, while preserving the user experience consumers already understand and trust.

We partnered with Kenneth and the Moon team in 2021 because they execute with the discipline this category demands. Compliance, payment networks, and Lightning operations are unforgiving. Moon has navigated all three while shipping a product users genuinely love, and we are proud to keep supporting them as they expand the reach of bitcoin spending.