MoonPay, a crypto payments company, has announced the acquisition of startup Meso as part of its strategy to expand in international markets.
Company Goals and Strategy
The acquisition of Meso is part of MoonPay's plan to create an international payment network that links banks, card systems, stablecoins, and blockchains under regulatory frameworks in the U.S. and Europe. According to Ivan Soto-Wright, Co-Founder and CEO of MoonPay, the company aims to establish trusted ramps for convenient money transfers.
Meso Team Joining MoonPay
Meso co-founders Ali Aghareza and Ben Mills will join MoonPay as Chief Technology Officer and Senior Vice President of Product. They previously worked at Braintree, PayPal, and Venmo, which will help strengthen MoonPay's technology and products.
Financial Outlook and Next Steps
This marks MoonPay's fourth acquisition this year. The company had earlier acquired Solana-based payment processor Helio and other firms. Despite laying off 10% of its workforce to control costs, MoonPay remains profitable and is reportedly in discussions for a new funding round, potentially increasing its market valuation.
The acquisition of Meso will enable MoonPay to solidify its position in the crypto payments market and continue developing its platform, establishing itself as a core infrastructure provider for Web3.
