Hassan Maishera
TL;DR
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MoonPay has acquired Helio in a deal worth $175 million.
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The acquisition follows partnerships with PayPal and Venmo
MoonPay Acquires Helio
MoonPay, a crypto infrastructure service provider, has completed the acquisition of a Solana-powered crypto payment processor.
Fox Business's report revealed that the deal is worth $175 million and is MoonPay’s largest acquisition to date. MoonPay will expand its payments infrastructure by integrating Helio’s technology, enabling crypto transactions on certain e-commerce platforms like Shopify and Discord.
While commenting on this latest development, Ivan Soto-Wright, CEO and co-founder of MoonPay, said,
"This acquisition is an important step in advancing our vision for the future of payments. Helio’s technology and expertise strengthen our ability to deliver efficient, secure, and scalable solutions for crypto commerce, trading infrastructure, and marketplaces."
Helio is a London-based startup that has been around since 2022 and enables businesses to process payments via cryptocurrencies such as SOL, BTC, ETH, and USDC, among others. Since its inception, Helio has processed over $1.5 billion in transactions and has integrated with global tech giants such as Discord, WooCommerce, and Shopify.
Currently, Helio supports over 6,000 merchants and has a million users. This latest development comes after MoonPay announced a strategic partnership with PayPal in May 2024 to use PayPal accounts to buy and sell over 100 cryptocurrencies on its platform.
In October, MoonPay announced support for PayPal’s PYUSD, allowing users in all supported countries, excluding Canada, to purchase the stablecoin via their platform. In October 2023, MoonPay integrated Mastercard's Crypto Credential system and payment technologies like Mastercard Send and Click to Pay.
