Crypto payments platform MoonPay has acquired blockchain payment processor Helio for $175 million, marking the start of what could be a series of strategic mergers in the digital asset space under the crypto-friendly Trump administration, FOX Business has learned.
The acquisition is privately-held MoonPay’s largest to date and will expand its payments infrastructure by integrating Helio’s technology, which enables crypto transactions on certain e-commerce platforms like Shopify and Discord.
News of the deal has not been reported.
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“Joining forces with MoonPay, we’re excited to accelerate our mission and unlock crypto’s potential by replacing slow, costly merchant payments with fast, affordable, and decentralized solutions,” said Stijn Paumen, CEO and co-founder of Helio, which is also a private company.
Last year, MoonPay signed partnerships with traditional payments giants PayPal and Venmo, allowing users to buy cryptocurrency through those platforms.
The acquisition and partnerships underscore the growing influence of so-called decentralized finance (DeFi), which proponents believe can revolutionize traditional payment rails like banks and credit cards using the blockchain – the underlying technology of digital assets – to settle transactions faster and cheaper.
“This acquisition is an important step in advancing our vision for the future of payments,” said Ivan Soto-Wright, CEO and co-founder of MoonPay. “Helio’s technology and expertise strengthen our ability to deliver efficient, secure, and scalable solutions for crypto commerce, trading infrastructure, and marketplaces. With MoonPay and Helio combined, we now offer the most comprehensive product for on-chain payments.”
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Industry observers say the deal is a harbinger of more to come. Crypto’s trajectory is expected to accelerate under President-elect Donald Trump following four years of stagnation under the Biden administration, which unleashed an industry-wide regulatory crackdown on the sector. The result was U.S. crypto companies moving offshore, preferring to do business in places like Europe and Asia where less stringent regulations enabled their businesses to grow.
In exchange for votes and campaign donations, Trump has promised to cut back regulations and make the U.S. 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 may also extend to the $3.5 trillion crypto industry.
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