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Cryptocurrency payments platform MoonPay acquires blockchain payments processor Helio for $175 million, marking the beginning of what could be a series of strategic mergers in the digital assets space under the crypto-friendly Trump administration, FOX Business reported.
The acquisition is privately held MoonPay's largest to date and aims to expand its payments infrastructure by integrating Helio's technology, which enables cryptocurrency transactions on certain e-commerce platforms such as Shopify and Discord. Become.
No news regarding this agreement has been reported.
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Representations of cryptocurrencies can be seen in this illustrated photo taken on November 14, 2022 in Krakow, Poland. ((Photo Credit: Jakub Porzycki/NurPhoto via Getty Images) / Getty Images)
“Together with MoonPay, we will accelerate our mission to replace slow and expensive merchant payments with fast, affordable, decentralized solutions,” said Stijn Paumen, CEO and co-founder of Helio. We are excited to unlock the potential of cryptocurrencies.” Private company.
Last year, MoonPay partnered with traditional payment giants PayPal and Venmo to allow users to purchase cryptocurrencies through these platforms.
The acquisition and partnership highlight the growing influence of so-called decentralized finance (DeFi), with proponents using blockchain, the underlying technology for digital assets, to We believe we can revolutionize traditional payment methods such as cards and settle transactions faster and cheaper.
“This acquisition is an important step in advancing our vision for the future of payments,” said Ivan Soto-Wright, MoonPay CEO and co-founder. By combining MoonPay and Helio, we now offer the most comprehensive offering for on-chain payments, strengthening our ability to provide efficient, secure and scalable solutions for transaction infrastructure and markets. I am.”
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Republican presidential candidate and former President Donald Trump gestures at the Bitcoin 2024 event in Nashville, Tennessee, on July 27, 2024. (Reuters/Kevin Wurm/File Photo/Reuters Photo)
Industry observers say the deal is a harbinger of more to come. After four years of stagnation under the Biden administration, which launched an industry-wide regulatory crackdown on the cryptocurrency industry, the trajectory of cryptocurrencies is expected to accelerate under President-elect Donald Trump. As a result, U.S. crypto companies have moved offshore, preferring to do business in places like Europe and Asia where regulations are weaker and businesses can grow.
In exchange for votes and campaign contributions, President Trump has promised to cut regulations and make the United States the “crypto capital of the planet.” His pro-business, pro-innovation policies are expected to spur renewed corporate M&A activity, particularly in the media and banking industries, but could also extend to the $3.5 trillion crypto industry.
