MoonPay has announced its acquisition of blockchain payment processor Helio for $175 million.
This is its largest acquisition to date, expanding its payment infrastructure and solidifying its position as a leader in the crypto payments space.
Helio Acquisition: A Strategic Move by MoonPay
Since 2018, MoonPay, often referred to as the “PayPal for crypto,” has built a reputation for simplifying the process of buying and selling cryptocurrencies. This led to a user base of over 20 million across over 160 countries.
Helio’s platform currently supports over 6,000 merchants and content creators. This enables payments in popular cryptocurrencies, such as Bitcoin, Ethereum, and various stablecoins.
Helio stands out for its integration with Solana Pay on Shopify, an e-commerce platform boasting over 138 million monthly users. This allows seamless crypto transactions and automatic conversion to fiat currencies, potentially lowering costs and enhancing security for merchants dealing in cryptocurrency.
In addition to strategic partnerships, MoonPay launched new products and services. For example, in November, it introduced MoonPay Balance, a fiat-to-crypto on-ramp solution available in 27 countries.
The innovative service enables users in the EU and UK to top up their accounts using euros or British pounds to buy or sell crypto.
Furthermore, it has made significant strides in regulatory compliance. For example, it recently obtained Money Transmitter licenses, which allow it to operate in 16 U.S. states.
The license enables users in Texas to buy and sell 64 different cryptocurrencies on MoonPay’s platform using popular payment methods like Venmo and PayPal.
What it Could Mean for Crypto
Besides acquisitions, MoonPay’s growth strategy includes partnerships with PayPal and Venmo. These partnerships emphasize the growing influence of decentralized finance (DeFi) in the broader financial ecosystem.
By combining MoonPay’s extensive user base and regulatory compliance with Helio’s merchant-focused tools, the merged entity is well-positioned to drive the adoption of cryptocurrency payments in e-commerce and beyond.
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