MoonPay acquires Helio for $175M to expand crypto payments infrastructure
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Crypto payment platform MoonPay has acquired blockchain payment processor Helio for $175 million, marking the start of what could be a series of strategic mergers in the digital asset space under the crypto-friendly Trump administration, FOX Business has learned.
The acquisition is MoonPay’s largest private sale to date and will expand its payments infrastructure by integrating Helio’s technology, which enables crypto transactions on certain e-commerce platforms such as Shopify and Discord.
The news of the deal has not been reported yet.
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A representation of the cryptocurrency is seen in this photo taken in Krakow, Poland on November 14, 2022. (Photo by Jakub Porzycki/NurPhoto via Getty Images) / Getty Images)
“Joining MoonPay, we are excited to accelerate our mission and unlock the power of crypto by replacing slow, expensive merchant payments with fast, affordable, and decentralized solutions,” said Stijn Paumen, CEO and co-founder of Helio. private company.
Last year, MoonPay signed a partnership with traditional payments giants PayPal and Venmo, allowing users to buy cryptocurrency through those places.
Acquisitions and collaborations underline the growing influence of so-called decentralized finance (DeFi), supporters of which believe it can transform traditional payment methods such as banks and credit cards using blockchain – the underlying technology of digital goods – to resolve transactions quickly and cheaply.
“This acquisition is an important step in advancing our vision for the future of payments,” said Ivan Soto-Wright, CEO and founder of MoonPay. “Helio’s technology and expertise strengthen our ability to deliver efficient, secure, and scalable solutions for crypto trading, trading infrastructure, and markets. With MoonPay and Helio together, we now offer the most complete on-chain payments product.”
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Republican presidential nominee and former President Donald Trump gestures at the Bitcoin 2024 event in Nashville, Tennessee, on July 27, 2024. (Reuters/Kevin Wurm/File Photo/Reuters Pictures)
Industry observers say the deal bodes well for more to come. Crypto’s trajectory is expected to accelerate under President-elect Donald Trump following four years of stagnation under the Biden administration, which has led to a deregulation of the industry in the sector. The result has been US crypto companies moving overseas, preferring to do business in places like Europe and Asia where stricter regulations enable their businesses to grow.
In exchange for votes and campaign donations, Trump has promised to reduce regulations and make the US “the crypto capital of the planet.” His pro-business, pro-innovation agenda is expected to spur renewed M&A activity, particularly in the media and banks, but may extend to the $3.5 billion crypto industry.
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