MoonPay acquires Helio for $175M to expand crypto payment infrastructure

Crypto payments platform MoonPay has acquired blockchain payment processor Helion for $175 million in what could be a series of strategic mergers in the digital asset space under the crypto-friendly Trump administration.

The acquisition is privately held MoonPay’s largest to date and expands its payments infrastructure by integrating Helio’s technology, which enables crypto transactions on select e-commerce platforms such as Shopify and Discord.

News of the deal has not been reported.

The Senate Banking Committee is set to launch a subcommittee on digital assets.

“We are excited to join forces with MoonPay to accelerate our mission and unlock the potential of crypto’s by replacing slow, expensive merchant payments with fast, affordable and decentralized solutions,” said Helio CEO and Co-Founder Stijn Paumen. Private company.

Last year, Moonpay signed partnerships with traditional payment giants PayPal and Venmo, allowing users to buy cryptocurrency through those platforms.

The acquisitions and partnerships highlight the growing influence of so-called decentralized finance (DeFi), which proponents believe is replacing traditional payment methods like banks and credit cards with blockchain — the underlying technology for digital assets — to settle transactions faster and cheaper.

“This acquisition is an important step forward in our vision for the future of payments,” said Evan Soto-Wright, CEO and co-founder of MoonPay. “Helio’s technology and expertise strengthen our ability to provide efficient, secure and scalable solutions for crypto trading, trading infrastructure and marketplaces. When MoonPay and Helio combine, we now offer the most comprehensive product for on-chain payments.”

CRYPTO INDUSTRY AWAITS TRUMP’S CFTC PICK.

Republican presidential candidate and former president Donald Trump They show a fingerprint at the Bitcoin 2024 event in Nashville, Tennessee on July 27, 2024. (Reuters/Kevin Wurm/File Photo/Reuters Photos)

Industry observers suggest the deal may have more to come. Following four years of stagnation under the Biden administration, crypto’s direction is expected to pick up speed under President-elect Donald Trump, who has taken industry-wide regulatory action against the sector. As a result, US crypto companies have opted to move offshore and do business in places like Europe and Asia where stricter regulations allow them to grow their businesses.

For votes and campaign donations, Trump has promised to reduce regulations and make America the “crypto capital of the planet.” His pro-business, pro-innovation agenda is expected to spur renewed corporate M&A activity, particularly in media and banking, but could also reach the $3.5 trillion crypto industry.