MoonPay acquires Solana payment processor Helio Pay in $175M deal
Moonpay operates in 160 countries and has 5 million users
Fintech company MoonPay, which facilitates cryptocurrency purchases and sales using traditional payment methods, has announced its acquisition of Helio Pay, the leading payment processor on the Solana network. MoonPay's global reach and Helio Pay's technological innovations aim to further bridge the gap between traditional finance and DeFi.
Operating in approximately 160 countries with around 5 million users, MoonPay enables purchases of dozens of major cryptocurrencies and NFTs using bank cards. Additionally, the platform supports creators and brands in promoting their NFT projects.
Over the past three years, Helio Pay has established itself as Solana's primary payment processor, handling transactions worth over $1.5 billion.
The $175 million deal between these two major fintech companies is expected to bring new, promising projects to the market.
Global reach and innovation to drive synergy
A MoonPay representative commented that with its global reach, strong regulatory framework, and robust branding, the company aims to accelerate Helio’s growth. By joining forces, the two firms hope to enhance crypto payments and create a seamless payment experience, further narrowing the gap between traditional and decentralized financial systems.
It’s worth noting that in late December, MoonPay became one of the first companies to receive a crypto asset service provider license under MiCA regulations. The license was granted by the Netherlands Authority for the Financial Markets.
A month earlier, MoonPay introduced MoonPay Balance, a payment solution allowing users to spend fiat balances in euros and British pounds to buy cryptocurrency directly within their non-custodial wallets.
Available in the United Kingdom and 26 other European nations, MoonPay Balance facilitates easy deposits and withdrawals for fiat currencies in euros and pounds. Users can access MoonPay Balance through non-custodial wallets, such as MetaMask, Phantom, and Bitcoin.com Wallet.
By eliminating fees for depositing, withdrawing, buying, and selling, MoonPay intends to remove friction from transactions, although partner institutions may apply their own fees. Supported payment methods at launch include SEPA (Single Euro Payments Area) payments, Faster Payments, and Open Banking, enhancing its utility for European users.
