Acquisition Details: $175M to Integrate Solana Payment Ecosystem
Leading crypto onramp provider Moonpay announced on January 15, 2025, the acquisition of Helio, a payment processor built on the Solana blockchain, for $175 million. Under the terms, Helio will retain its brand and operate as a Moonpay subsidiary, with all employees receiving equity in the combined entity. No layoffs were mentioned.
Helio currently serves over 6,000 merchants and processes payments for millions of customers. Its flagship product, Solana Pay, has been integrated into platforms such as Discord and Shopify, enabling instant, low-cost crypto payments. The acquisition gives Moonpay direct access to Helio's technology and established merchant relationships within the Solana ecosystem.
Industry Context: Crypto Payment Adoption Still Nascent
Helio disclosed in the press release that fewer than 10% of cryptocurrency holders actively use their assets for transactions. This represents a massive untapped opportunity to convert idle digital capital into spendable funds. Ivan Soto-Wright, CEO and co-founder of Moonpay, stated: "Helio's technology and expertise strengthen our ability to deliver efficient, secure, and scalable solutions for crypto commerce, trading infrastructure, and marketplaces."
Stijn Paumen, CEO and co-founder of Helio, added: "By joining forces with Moonpay, we're excited to accelerate our mission and unlock crypto's potential by replacing slow, costly merchant payments with fast, affordable, and decentralized solutions." He emphasized that the combined entity aims to "unleash the spending power of millions" of crypto users.
Strategic Timing: Positioning for Pro-Crypto U.S. Policies
The acquisition arrives just days before President-elect Donald Trump takes office on January 20, 2025, amid widespread expectations of crypto-friendly regulations. Moonpay's move may be a proactive effort to capture the anticipated surge in crypto payment usage, especially as traditional payment card fees face increased scrutiny.
Earlier, Moonpay had partnered with PayPal to enable crypto purchases for 60 million Venmo users. The Helio acquisition further solidifies Moonpay's position as a full-stack payment infrastructure provider, bridging fiat onramps to on-chain settlement. With Helio's technology, Moonpay can offer merchants a seamless crypto payment acceptance layer, potentially driving a new wave of real-world crypto usage.