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Crypto payments platform Moonpay has acquired blockchain payments processor Helio for $175 million, in what could be the start of a series strategic merger In the digital asset sector under the crypto-friendly Trump administration, Fox Business has learned.
The acquisition is privately held MoonPay’s largest to date and will expand its payments infrastructure by integrating Helio’s technology, which enables crypto transactions on certain platforms. e-commerce Platforms like Shopify and Discord.
No news of the deal has been given.
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A representation of cryptocurrencies can be seen in this illustration photo taken in Kraków, Poland on November 14, 2022. ((Photo by Jakub Porzycki/NurPhoto via Getty Images)/Getty Images)
Stijn Pomen, CEO and co-founder of Helio, said, “By joining forces with Moonpay, we are excited to accelerate our mission and unlock the potential of crypto by replacing slow, expensive merchant payments with fast, affordable, and decentralized solutions. Are.” A private company.
Last year, MoonPay signed partnerships with traditional payment giants PayPal and Venmo, allowing Users to buy cryptocurrencies through those platforms.
The acquisition and partnership underscore the growing influence of so-called decentralized finance (DeFi), which proponents believe will replace banks and financial institutions by using blockchain – the underlying technology of digital assets – to settle transactions faster and cheaper. Traditional payments like credit cards could revolutionize rail.
“This acquisition is an important step in advancing our vision for the future of payments,” said Evan Soto-Wright, CEO and co-founder of MoonPay. “Helio’s technology and expertise strengthen our ability to deliver efficient, secure and scalable solutions for crypto commerce, trading infrastructure and marketplaces. With Moonpay and Helio combined, we now offer the most comprehensive product for on-chain payments.” We do.”
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Republican presidential candidate and former President Donald Trump gestures at the Bitcoin 2024 event in Nashville, Tennessee on July 27, 2024. (Reuters/Kevin Worm/File Photo/Reuters Photo)
Industry observers say the deal is a sign of more to come. Crypto’s trajectory is expected to accelerate newly elected president donald trump That followed an industry-wide regulatory crackdown on the sector, following a four-year pause under the Biden administration. The result was that American crypto companies began to prefer doing business in places like Europe and Asia, where less stringent regulations enabled their businesses to grow.
In exchange for votes and campaign donations, Trump has promised to cut regulations and make America the country “The crypto capital of the planet.” His pro-business, pro-innovation agenda is expected to spur renewed corporate M&A activity, particularly in media and banking, but could also extend to the $3.5 trillion crypto industry.
