MoonPay spent 150 million USD to acquire Helio

Cryptocurrency payment platform MoonPay is in talks to acquire Helio Pay for $150 million. If the deal is successful, it could enhance MoonPay’s cryptocurrency...

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Cryptocurrency payment platform MoonPay is in talks to acquire Helio Pay for $150 million. If the deal is successful, it could enhance MoonPay’s cryptocurrency services and attract more users.

However, data shows that MoonPay’s investment activities have not been highly effective in the past two years.

MoonPay Plans Largest Acquisition Ever

According to Fox Business’s Eleanor Terrett, MoonPay is negotiating to acquire Helio for approximately $150 million. If the deal is closed, this will be MoonPay’s largest deal since its founding in 2018.

Helio is a comprehensive payment platform for the Web3 economy. In April 2023, in the venture capital round, the project raised 3.3 million USD, attracting the participation of many prominent investment funds such as Solana Ventures, RockawayX, Faction, and 23 funds. other private and angel investments. To date, Helio reports over 6K merchants, over 1 million users, and annual revenue exceeding $1.5 billion.

“Helio is an alternative to Coinbase Commerce, providing a self-service crypto payments platform that helps content creators and e-commerce merchants receive crypto. It now offers blank custom solutions, including Solana Pay, which is integrated into Shopify and Dexscreener’s transaction infrastructure.” – Journalist Eleanor Terrett said. source.

In 2024, MoonPay has made outstanding progress in the context of a rising market. For example, last month, MoonPay set a record for Solana transactions in a single day. Furthermore, the company continuously integrates with diverse partners, such as Ripple and PayPal, to diversify payment channels and asset management.

A potential acquisition of Helio could be their next big step. The plan comes amid a wave of increased cryptocurrency adoption and optimistic predictions for payments adoption stablecoins globally.

According to MoonPay’s official website, the platform currently operates in more than 160 countries, has more than 20 million accounts, and has processed over $6 billion in cryptocurrency transactions.

MoonPay Investment Track. Source: Cryptorank

Data from Cryptorank indicates that MoonPay’s investment activities have been quiet in 2024. Since 2023, MoonPay has invested in about 10 projects in the cryptocurrency market, with 50% of these related to NFTs and the Metaverse. However, these two sectors performed very poorly in 2024.