MoonPay has announced the acquisition of blockchain payment processor Helio for $175 million. This initiative marks the company's largest purchase and opens new prospects for enhancing its crypto payment infrastructure.
Key objectives and significance of the acquisition
The acquisition of Helio allows MoonPay to expand its ability to conduct crypto transactions on platforms like Shopify and Discord. Helio's technology provides faster and more affordable decentralized payments, replacing traditional methods. Stijn Paumen, CEO and co-founder of Helio, stated, "By 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."
Impact of the new administration on the crypto industry
The new administration is expected to significantly alter the trajectory of the crypto industry in the U.S. President-elect Donald Trump plans to reduce regulations, potentially stimulating growth in corporate mergers and acquisitions within the banking and media sectors. This change is anticipated to have a positive impact on the cryptocurrency sector, enabling companies to grow under less restrictive conditions. MoonPay has already secured a Money Transmitter License from the Texas Department of Banking and MiCA approval in the Netherlands, strengthening its market position.
How Helio can support MoonPay
Helio Pay will assist MoonPay in expanding its presence across more than 160 countries, enabling crypto payments for merchants and content creators. Helio's infrastructure supports the conversion of fiat currencies to crypto and accommodates payments via local bank transfers, Apple Pay, Google Pay, and credit and debit cards. Helio recently expanded its blockchain support to include Solana and Ethereum, allowing token-based payments, such as $EMT.
The acquisition of Helio by MoonPay opens new opportunities for both companies, allowing them to enhance their capabilities and strengthen their positions in the global cryptocurrency industry. This deal might be the beginning of a new era of strategic mergers in the digital asset space.
