MoonPay Acquires Helio for $175M to Rival Coinbase Commerce in Crypto Payments

MoonPay, a financial technology company providing infrastructure for cryptocurrency purchases via credit cards, bank transfers, and mobile payment solutions, has acquired blockchain payment processor Helio for $175 million. The acquisition marks MoonPay’s largest deal yet and signals its intent to challenge Coinbase Commerce, the leading player in the U.S. crypto payment sector.

Helio was launched in June 2022 on the Solana blockchain and quickly gained traction as a provider of on-chain payment solutions. In 2023, the company raised $3 million in its first funding round, backed by Solana Ventures. Helio’s technology enables crypto transactions on platforms like Shopify, Discord, and SolanaPay, offering fast and affordable merchant payment solutions.

Transforming On-Chain Payments

MoonPay plans to integrate Helio’s technology into its payment infrastructure, further strengthening its position in the DeFi space. Co-founder and CEO Ivan Soto-Wright announced the acquisition in a video message shared on social media:

“Today, I’ve got a big announcement for you. 2024, as you know, big year for MoonPay. 2025 is going to be even bigger. And we’re kicking it off with a bang—the acquisition of HelioPay. HelioPay is the leading crypto commerce solution powering thousands of merchants inside some of your favorite integrations, SolanaPay, Shopify, and DexScreener. And with MoonPay, we’re going to take it to the next level. We’re going to transform the future of the crypto economy, the future of on-chain payments, and we’re just getting started.”

MoonPay’s Strategic Push in Crypto Payments

The acquisition comes as MoonPay ramps up its efforts to rival Coinbase Commerce by expanding its offerings and positioning itself as a leader in on-chain payments. Combined with its partnerships with PayPal and Venmo, MoonPay is set to challenge traditional payment rails with decentralized and cost-effective solutions.