The post MoonPay Acquires Helio for $175 Million to Expand Crypto Payment Infrastructure appeared first on Coinpedia Fintech News
According to a latest report from FOX Business, Crypto payments platform MoonPay has acquired blockchain payment processor Helio for $175 million, possibly starting a series of mergers in the digital asset sector under the crypto-friendly Trump administration.
The acquisition is MoonPay’s biggest so far and will enhance its payment system by integrating Helio’s technology, which enables crypto transactions on certain e-commerce platforms like Shopify and Discord.
“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,” noted Stijn Paumen, CEO and co-founder of Helio.
Last year, MoonPay signed partnerships with traditional payments giants PayPal and Venmo, allowing users to buy cryptocurrency through those platforms.
The acquisition and partnerships highlights the growing impact of DeFi. The Proponents believe DeFi can change traditional payment systems like banks and credit cards which uses blockchain technology to make transactions faster and cheaper.
“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,” Ivan Soto-Wright, CEO and co-founder of MoonPay remarked.
Industry experts believe that the deal signals more mergers ahead. Under President-elect Donald Trump, crypto growth is expected to speed up after slow progress during the Biden administration, which introduced stricter regulations.
Many U.S. crypto companies moved abroad to places with looser rules. Trump has promised to reduce regulations and make the U.S. a global crypto hub, potentially boosting mergers and acquisitions in crypto, media, and banking.