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Crypto payments platform MoonPay has acquired blockchain payments processor Helio for $175 million, marking the start of what could be a series of strategic mergers in the digital assets space under the crypto-friendly Trump administration , FOX Business has learned.
The acquisition is MoonPay’s largest to date and will expand its payments infrastructure by integrating Helio technology, which enables crypto transactions on select e-commerce platforms like Shopify and Discord.
News of the deal has not been reported.
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The representation of cryptocurrencies is seen in this illustrative photo taken in Krakow, Poland, on November 14, 2022. ((Photo by Jakub Porzycki/NurPhoto via Getty Images) / Getty Images)
“By joining forces with MoonPay, we are excited to accelerate our mission and unlock the potential of crypto by replacing slow and costly merchant payments with fast, affordable and decentralized solutions,” said Stijn Pumen, CEO and co-founder of Helio, which is also a private company.
Last year, MoonPay signed partnerships with traditional payments giants PayPal and Venmo, allowing users to purchase cryptocurrencies through these platforms.
The acquisition and partnerships highlight the growing influence of so-called decentralized finance (DeFi), which its proponents say can revolutionize traditional payment methods like banks and credit cards using blockchain – the underlying technology. underlying digital assets – to settle transactions faster and cheaper.
“This acquisition is an important step in advancing our vision for the future of payments,” said Ivan Soto-Wright, CEO and co-founder of MoonPay. “Helio’s technology and expertise strengthens our ability to provide efficient, secure and scalable solutions for crypto trading, trading infrastructures and markets. With MoonPay and Helio combined, we now offer the most comprehensive product for on-chain payments.
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Republican presidential candidate and former President Donald Trump gestures during the Bitcoin 2024 event in Nashville, Tennessee, July 27, 2024. (Reuters/Kevin Wurm/File photo / Reuters Photos)
Industry observers say the deal signals more to come. Crypto’s trajectory is expected to accelerate under President-elect Donald Trump, following four years of stagnation under the Biden administration, which unleashed an industry-wide regulatory crackdown on the sector. The result was that American crypto companies relocated, preferring to do business in countries like Europe and Asia, where less strict regulations allowed their businesses to grow.
In exchange for votes and campaign donations, Trump promised to cut regulations and make the United States the “crypto capital of the world.” Its pro-business and innovation agenda is expected to spur a resurgence in corporate M&A activity, particularly in media and banking, but could also extend to the crypto sector, estimated at 3,500 billion dollars.
