The known crypto payment giant, Moonpay is reportedly in talks with Helio Pay to acquire it, the acquisition could be finalized at the sum of $150 million. As per experts if the deal gets finalized it will become one of the biggest deals of the year in the crypto market. 

Since its market entry, Moonpay has demonstrated its dedication to advancing the payment infrastructure in the cryptocurrency market.

To date, Moonpay has partnered with hundreds of firms to improve its services, and PayPal is one of its major partners. A user can directly buy or sell various types of cryptocurrencies using their traditional account. 

With more than 20 million customers in 160 countries, MoonPay already has a strong presence in the cryptocurrency payments market. The inclusion of Helio’s services might increase that number.

The business recently released a number of projects, such as MoonPay Balance, a fiat-to-crypto on-ramp solution that was introduced in 27 countries in November.

With a value of $3.4 billion, MoonPay secured $555 million in a Series A investment round headed by Tiger Global Management and Coatue in November 2021, garnering substantial investor backing.

It is anticipated that MoonPay’s partnership with PayPal and Venmo would further user interaction with virtual currency.

Additionally, employing such payment methods will make it simple for regular consumers to incorporate cryptocurrency into their daily lives. 

Residents of Texas will be able to sell cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) as part of MoonPay’s intentions to extend its services in the state by 2025. 

MoonPay is able to function throughout the United States thanks to the 45 money transmitter licenses that the firm has obtained. According to the website, the organization has connections with over 300 top wallets, websites, and applications and operates in more than 160 countries.

Crypto payment market to surpass traditional market! 

As digital currencies become more widely used, the cryptocurrency payment business is expected to overtake the conventional payment sector. Blockchain technology is becoming more widely used, and the need for quicker, safer, and more affordable transactions is changing the financial scene.

Conventional payment methods frequently depend on clearinghouses, banks, and payment processors, which add costs and delays. On the other hand, peer-to-peer transactions made possible by blockchain technology drastically cut down on expenses and processing times. 

Conventional payment methods frequently depend on clearinghouses, banks, and payment processors, which add costs and delays. On the other hand, peer-to-peer transactions made possible by blockchain technology drastically cut down on expenses and processing times. 

The shift to a payment industry driven by cryptocurrencies is not without difficulties, though. Governments throughout the world continue to struggle with how to categorize and manage digital assets, making regulatory ambiguity a major obstacle. 

Furthermore, issues with energy consumption and scalability still exist, especially with older blockchains like Bitcoin.

The market for cryptocurrency payment gateways was expected to be worth USD 1.2 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of more than 15% between 2024 and 2032. 

The worldwide financial environment is changing as a result of the growing use of cryptocurrency payment channels, especially web-based platforms.