In a major development for the crypto payments space, infrastructure giant MoonPay has acquired Solana-based payments processor Helio for a whopping $175 million. The deal, which was first reported by Fox Business, marks a significant expansion of MoonPay’s capabilities in the rapidly evolving world of Web3 commerce.
Advancing the Future of Crypto Payments
For MoonPay CEO and co-founder Ivan Soto-Wright, the acquisition represents a key strategic move in the company’s mission to shape the crypto payments landscape. In a statement about the deal, Soto-Wright emphasized its importance:
“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.”
– Ivan Soto-Wright, CEO and co-founder of MoonPay
The Helio acquisition aligns perfectly with MoonPay’s mission to make crypto more accessible and user-friendly. By integrating Helio’s powerful payment processing capabilities, MoonPay aims to further streamline the on-ramps and off-ramps between traditional finance and the burgeoning world of digital assets.
Helio’s Impressive Growth and Reach
Despite only launching in 2022, London-based Helio has already made significant strides in the crypto payments space. The Solana-powered startup enables businesses to process payments in a variety of digital currencies, including USDC, SOL, BTC, and ETH. In its short existence, Helio has:
- Processed over $1.5 billion in transactions
- Integrated with major platforms like Discord, WooCommerce, and Shopify
- Supported more than 6,000 merchants and one million users
This impressive growth and reach made Helio an attractive acquisition target for MoonPay, which itself boasts over 20 million users according to the company. The combination of MoonPay’s infrastructure and Helio’s payment processing technology has the potential to create a powerhouse in the crypto commerce space.
Expanding Partnerships and Capabilities
The Helio acquisition comes on the heels of several other strategic moves by MoonPay to expand its partnerships and capabilities. In May, the company formed a key partnership with PayPal to enable the use of PayPal accounts for buying and selling over 100 cryptocurrencies on the MoonPay platform.
Then in October, PayPal announced that eligible U.S. users could use its Venmo service to fund their MoonPay accounts, further streamlining the process of moving between fiat and crypto. These partnerships, combined with the Helio acquisition, position MoonPay as a leading player in the crypto payments and infrastructure space.
The Future of Crypto Commerce
As the crypto ecosystem continues to mature and gain mainstream adoption, the importance of seamless, secure payment processing cannot be overstated. MoonPay’s acquisition of Helio represents a significant step forward in making crypto a viable option for everyday commerce.
By combining MoonPay’s extensive user base and infrastructure with Helio’s cutting-edge payment technology, the company is well-positioned to drive the future of crypto commerce. As more businesses and consumers embrace digital assets, solutions like those offered by MoonPay and Helio will be crucial in bridging the gap between traditional finance and the Web3 economy.
The $175 million price tag for Helio underscores the immense value and potential seen in the crypto payments space. As the industry continues to evolve and mature, we can expect to see more high-profile acquisitions and partnerships as companies jockey for position in this rapidly growing market.
For MoonPay, the Helio acquisition is a clear signal of its ambition to be a leading player in shaping the future of crypto commerce. With its expanding capabilities and partnerships, the company is well on its way to realizing its vision of a more accessible, user-friendly crypto ecosystem.
As always, the crypto space moves quickly, and it will be fascinating to see how MoonPay’s acquisition of Helio plays out in the coming months and years. One thing is certain: the future of crypto payments just got a whole lot more interesting.
