Moonpay, one of the leading crypto onramps, has announced the acquisition of Helio, a Solana-focused payment processor. The deal, which saw Moonpay disburse $175 million, will allow this to take advantage of Helio’s tech to advance decentralized payments.
Today, Helio supports over 6,000 merchants and processes payments for millions of customers, integrating Solana Pay with relevant platforms including Discord and Shopify.
Helio’s team will remain at the company’s helm and it will survive as a Moonpay subsidiary. Also, employees will become shareholders, with no mention of possible layoffs as part of this deal.
Ivan Soto-Wright, CEO and co-founder of Moonpay, highlighted the relevance of this acquisition for the company’s future. He stated:
Helio’s technology and expertise strengthen our ability to deliver efficient, secure, and scalable solutions for crypto commerce, trading infrastructure, and marketplaces.
Stijn Paumen, CEO and co-founder of Helio, also reinforced the need to transform the payments into nimbler and cheaper processes.
He stated:
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.
As Helio revealed in a press release explaining this move, only up to 10% of crypto holders actively use their assets. This presents an opportunity to leverage this capital as part of a decentralized network that facilitates payments with these assets to “unleash the spending power of millions.”
The agreement may be part of Moonpay’s efforts to prepare for a potential surge in cryptocurrency adoption as a means of exchange in the U.S.
President-Elect Trump will take office on January 20 and is expected to implement pro-crypto policies from day one that might prop crypto usage up, more so when traditional payment and credit card fees are in the spotlight.
Read more: Paypal Expands Crypto Reach: 60 Million Venmo Users Now Linked to Moonpay
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