MoonPay, a crypto infrastructure service provider, has bought Helio, a Solana-powered crypto payment processor. According to Fox Business, the deal is reportedly worth $175 million.

The Miami-based company aims to expand its trading and marketplace volume using Helio's products. "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, in a statement. “Helio’s technology and expertise strengthen our ability to deliver efficient, secure, and scalable solutions for crypto commerce, trading infrastructure, and marketplaces."

Helio, a London-based startup, was launched in 2022 and enables businesses to process payments via digital currencies such as USDC, SOL, BTC and ETH, among others. Helio has already processed over $1.5 billion in transactions and has integrated with platforms including Discord, WooCommerce, and Shopify.

The company supports over 6,000 merchants and one million users. Meanwhile, MoonPay has over 20 million users, the statement said.

The deal comes after MoonPay formed a strategic partnership with PayPal in May to use PayPal accounts for buying and selling over 100 cryptocurrencies on its platform. Then, in October, PayPal announced that eligible U.S. users could use Venmo to fund their accounts on MoonPay.

Siamak Masnavi

Siamak Masnavi is a reporter specializing in blockchain technology, major cryptocurrencies, crypto regulations, and macroeconomics. Holding a PhD in computer science from the University of London, Siamak began his career in software development, including four years in banking in the City of London and Zurich, before transitioning to crypto journalism in April 2018. He has no cryptocurrency holdings due to his risk-averse nature.