What to know:
- MoonPay is buying Helio, a Solana-powered crypto payment processor.
- The deal is reported to have a price tag of $175 million.
- “This acquisition is an important step in advancing our vision for the future of payments,” said MoonPay CEO.
MoonPay, a provider of crypto infrastructure services, recently acquired Helio, a payment processor powered by Solana. As reported by Fox Business, the transaction is estimated to be worth approximately $175 million. The Miami-based company intends to leverage Helio’s products to boost its trading and marketplace volume. In a statement, Ivan Soto-Wright, CEO and co-founder of MoonPay, explained that this acquisition is an essential step in realizing their vision for the future of payments. He added that Helio’s technology and expertise would enhance their capacity to offer efficient, secure, and scalable solutions for crypto commerce, trading infrastructure, and marketplaces.
Helio, a startup based in London, was established in 2022 and allows businesses to process digital currency transactions, such as USDC, SOL, BTC, and ETH, among others. To date, Helio has already processed more than $1.5 billion in transactions and has integrated with popular platforms like Discord, WooCommerce, and Shopify.
The company assists more than 6,000 businesses and approximately a million individuals. On the other hand, MoonPay boasts over 20 million users, as stated previously.
The recent agreement follows MoonPay establishing a strategic alliance with PayPal in May, which allowed PayPal accounts to be used for purchasing and selling more than a hundred cryptocurrencies on its platform. Later, in October, PayPal disclosed that eligible U.S. users could use Venmo to finance their accounts on MoonPay.
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2025-01-14 00:37