TL;DR
- MoonPay is considering acquiring HelioPay for $150 million, aiming to expand its crypto e-commerce services and rival Coinbase Commerce.
- HelioPay offers payments in Bitcoin, Ether, and stablecoins to over 6,000 merchants and has integrated Solana Pay on Shopify, potentially boosting MoonPay’s user base.
- MoonPay recently launched MoonPay Balance and received a Money Transmitter License in Texas, enhancing its presence in the e-commerce sector and expanding crypto accessibility.
MoonPay, a prominent crypto payments firm, is reportedly considering the acquisition of HelioPay for approximately $150 million. This potential deal, if finalized, would mark MoonPay’s largest acquisition to date and significantly expand its service offerings in the crypto e-commerce sector.
The acquisition aims to position MoonPay as a formidable competitor to Coinbase Commerce, a leading player in the self-service crypto payments market.
Strategic Move to Enhance Services
According to Fox Business journalist Eleanor Terrett, MoonPay is still in the negotiation phase with HelioPay. The acquisition is expected to bolster MoonPay’s current user base and enhance its crypto payment services. HelioPay already offers payments in Bitcoin, Ether, and multiple stablecoins to over 6,000 e-commerce merchants and content creators.
It has also integrated Solana Pay on its Shopify platform, which boasts close to 140 million monthly users. This strategic move could significantly augment MoonPay’s service offerings and attract more users to its platform.
Expanding Presence in E-Commerce
Besides the potential acquisition, MoonPay has been actively working to broaden its presence in the e-commerce sector. The firm recently received its Money Transmitter License from the Texas Department of Banking, allowing it to operate freely in Texas.
This license enables users to buy 64 different cryptocurrencies on MoonPay’s platform through Venmo and PayPal. Additionally, MoonPay plans to allow its Texas users to sell various cryptocurrencies like Bitcoin and Ethereum by 2025.
New Payment Solutions
On November 13, MoonPay launched MoonPay Balance, a fiat-to-crypto payment solution. This new service allows users in the EU and UK to top up in Euro or British Pounds and use it to buy or sell crypto.
The platform also facilitates interactions with decentralized finance protocols from non-custodial wallet solutions like MetaMask and Phantom. MoonPay’s co-founder and CEO, Ivan Soto-Wright, emphasized the company’s commitment to compliance and consumer protection as it expands crypto accessibility globally.
The potential acquisition of HelioPay by MoonPay represents a significant step in the company’s strategy to enhance its crypto payment services and compete with established players like Coinbase Commerce.