MoonPay Buys Crypto Payment Processor Helio for $175M

MoonPay, a crypto infrastructure work provider, has bought Helio, a Solana-powered crypto outgo processor. According to Fox Business, the woody is reportedly worthy $175 million. The Miami-based institution aims to grow its trading and marketplace measurement utilizing Helio's products. "This acquisition is an important measurement successful advancing our imaginativeness for the aboriginal of payments,” said Ivan Soto-Wright, CEO and co-founder of MoonPay, successful a statement. “Helio’s exertion and expertise fortify our quality to present efficient, secure, and scalable solutions for crypto commerce, trading infrastructure, and marketplaces." Helio, a London-based startup, was launched successful 2022 and enables businesses to process payments via integer currencies specified arsenic USDC, SOL, BTC and ETH, among others. Helio has already processed implicit $1.5 cardinal successful transactions and has integrated with platforms including Discord, WooCommerce, and Shopify.

The institution supports implicit 6,000 merchants and 1 cardinal users. Meanwhile, MoonPay has implicit 20 cardinal users, the connection said. The woody comes aft MoonPay formed a strategical concern with PayPal successful May to usage PayPal accounts for buying and selling implicit 100 cryptocurrencies connected its platform. Then, successful October, PayPal announced that eligible U.S. users could usage Venmo to money their accounts connected MoonPay.