To improve cryptocurrency payment services, MoonPay paid $175 million to buy Helio, a payment processor based in Solana.
To grow its payments infrastructure, MoonPay, a provider of fiat-to-crypto on-ramps, has paid $175 million to buy Helio, a blockchain-based payment processor built on Solana.
Helio, which is well-known for its cryptocurrency checkout platform, allows companies to take payments in digital currencies like Bitcoin ($90,862), Ether ($3,039.09), Solana SOL ($175.07), and USD Coin ($1.00).
A news statement claims that by adding Helio’s technology to MoonpPay’s infrastructure, the acquisition increases the effectiveness of cryptocurrency payments for marketplaces and retailers.
The agreement is anticipated to increase trading and marketplace traffic, and it was reached just seven days before US President-elect Donald Trump takes office on January 20.
Implications of acquisition
Helio supports more than 6,000 merchants, has a transaction history of more than $1.5 billion, and is extensively utilized for e-commerce, digital goods, and subscription services.
With Helio’s acquisition by MoonPay, the on-ramp provider will be able to offer a more complete payment solution for developers, retailers, and customers. Helio is already linked with well-known platforms like Shopify, WooCommerce, and Discord.
Stijn Paumen, Helio’s CEO and co-founder, stated in the press release that “Helio was founded to make crypto payments accessible” and that in just three years, the company had reached “millions of customers” through merchants.
MoonPay can now replace “slow, costly merchant payments with fast, affordable, and decentralized solutions,” according to Paumen, who made the deal.
In a notice dated December 30, 2024, MoonPay stated that the EU’s Markets in Crypto-Assets (MiCA) bill had permitted them to operate as a regulated cryptocurrency company in the Netherlands.
According to MoonPay’s announcement, the Dutch Authority for the Financial Markets (DAFM) granted the cryptocurrency company a license by the MiCA regulatory framework.
The clearance was described as a “pivotal step in solidifying the crypto industry’s role in the global economy” by MoonPay CEO and co-founder Ivan Soto-Wright.
An expected purchase
Users can now save and spend fiat money on MoonPay and utilize it as a gateway for decentralized financial transactions with the company’s new payment tool, the Balance, unveiled in November 2024.
According to reports, MoonPay contemplated purchasing Helio Pay in December 2024 for roughly $150 million, which is $25 million less than the current price.
In December, it had almost 20 million customers across more than 160 countries, and the Helio acquisition increased its merchant service capabilities.
