MoonPay, a prominent player in the cryptocurrency payments sector, is reportedly pursuing the acquisition of Helio Pay, a cryptocurrency e-commerce platform, for an estimated $150 million. This potential deal represents MoonPay’s most significant acquisition to date. The discussions surrounding this acquisition were highlighted in a recent report that underscores MoonPay’s ambitions to enhance its service offerings in the rapidly evolving crypto landscape.
Positioned as a leading provider of cryptocurrency payments infrastructure, MoonPay likens itself to a “PayPal for crypto.” The platform facilitates a seamless transaction experience for users, enabling them to buy and sell digital assets using traditional payment methods, including credit and debit cards, as well as mobile payment services like apple Pay and google Pay. Helio Pay, on the other hand, boasts a self-service payment solution for e-commerce merchants and content creators. This platform allows transactions in Bitcoin , Ether, stablecoins, and a broad range of other cryptocurrencies, making it a robust player in the crypto payment domain.
A key aspect of Helio Pay’s functionality includes its integration with Solana Pay on the Shopify e-commerce platform, which attracts over 138 million monthly users. The proposed acquisition could significantly broaden MoonPay’s merchant service capabilities, capitalizing on its existing user base of approximately 20 million individuals from more than 160 countries.
Additionally, MoonPay has made strides in enhancing its crypto offering with initiatives like the MoonPay Balance solution, which was recently launched to facilitate fiat-to-crypto transactions. This new feature allows users to store and manage fiat balances while interacting with decentralized finance protocols through non-custodial wallets. While the service initially launched in 27 European countries, significant markets like the United States and Germany were notably absent. MoonPay has also integrated fiat PayPal on-ramps for customers in the European Union and the UK, following a previous integration in the US.
Founded in 2018 by Victor Faramond and Ivan Soto-Wright, who serves as CEO, MoonPay continues to innovate and expand its footprint in the cryptocurrency industry.
