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MoonPay Secures Helio for $175 Million to Expand On-Chain Payment Solutions
In a significant development, MoonPay, a cryptocurrency payments company, has acquired Helio, a Solana-based payment platform, for a whopping $175 million. This strategic move is aimed at expanding the capabilities of MoonPay’s on-chain payment solutions.
Helio, which operates as a blockchain-based platform, provides payment solutions to over 6,000 merchants and millions of users worldwide. It supports payments in USDC, SOL, BTC, ETH, and other digital assets. In the last three years alone, Helio has processed an impressive $1.5 billion in transactions, demonstrating its reliability in handling large-scale crypto payments.
The platform is utilized across various sectors, including e-commerce, digital goods, and subscriptions. Moreover, it seamlessly integrates with popular platforms like Shopify, WooCommerce, and Discord, empowering businesses to adopt on-chain payment systems effortlessly.
As part of the acquisition, MoonPay plans to integrate Helio’s blockchain technology into its own system, enabling a seamless crypto payment experience for users. Ivan Soto-Wright, CEO of MoonPay, emphasized that Helio’s expertise will significantly enhance their capacity to deliver efficient and secure on-chain payments. He also stated that this partnership will expand the company’s product offerings for businesses and users alike.
This acquisition follows recent collaborations and regulatory developments at MoonPay. The company has previously partnered with PayPal to enable users to trade over 110 cryptocurrencies using PayPal accounts. Additionally, MoonPay enabled Venmo funding for cryptocurrency transactions, marking a notable milestone in payment integration.
Furthermore, the acquisition is subject to regulatory approval, which is expected to fall under the European Union’s Markets in Crypto-Assets (MiCA) regulation. This compliance will allow MoonPay to operate across the European Economic Area, ensuring adherence to crypto-related regulations.
The integration of Helio’s technology into MoonPay’s system has far-reaching implications for the cryptocurrency and blockchain industries.
Source: coinchapter.com
