MoonPay, a crypto infrastructure service provider, bought Helio, a crypto payment processor powered by Solana. According to Fox Business, the deal is worth $175 million.
The Miami-based company intends to expand its commercial and market volume using Helio products. “This acquisition is an important step in advancing our vision for the future of payments,” Ivan Soto-Wright, CEO and co-founder of MoonPay, said in a statement. “Helio’s technology and expertise strengthen our ability to deliver efficient, secure, and scalable solutions for crypto trading, trading infrastructure, and markets.”
Helio, a London-based startup, launched in 2022 and allows businesses to process payments using digital currencies such as USDC, SOL, BTC, and ETH, among others. Helio has already processed over $1.5 billion in transactions and has integrated with platforms like Discord, WooCommerce, and Shopify.
The company supports more than 6,000 merchants and one million users. Meanwhile, MoonPay has more than 20 million users, according to the statement.
The deal comes after MoonPay formed a strategic partnership with PayPal in May to use PayPal accounts to buy and sell more than 100 cryptocurrencies on its platform. Then in October, PayPal announced that eligible US users could use Venmo to fund their MoonPay accounts.
