Crypto payments company MoonPay has expanded its portfolio with the acquisition of Meso, a firm dedicated to bridging traditional financial systems with digital currencies. This acquisition marks a strategic move to reinforce MoonPay’s international payments network, which aims to integrate various financial entities under a cohesive regulatory framework.
Meso, which launched in 2022, is known for its support of multiple blockchain platforms, including Ethereum, Solana, Base, Bitcoin, and Polygon. The company facilitates various payment methods such as debit cards and Apple Pay, enhancing accessibility for users. While the financial terms of the deal remain undisclosed, its impacts on MoonPay’s service offerings are anticipated to be significant.
As part of the acquisition, Meso’s co-founders will integrate into the MoonPay team. Ali Aghareza, who served as Meso’s chief technology officer, will assume the role of CTO at MoonPay. Aghareza’s background includes a stint on the engineering team at Braintree following its acquisition by PayPal, and he has played a pivotal role in establishing Meso as an infrastructure ally for both fintech and crypto platforms.
Ben Mills, also a co-founder of Meso, will transition to the position of senior vice president of product at MoonPay. Mills boasts a robust history of developing payment products, having held leadership positions at notable firms like Braintree, Venmo, and Thinkful. His previous work at Solana contributed to advancements in payment innovation before co-founding Meso.
MoonPay’s CEO, Ivan Soto-Wright, highlighted the significance of this acquisition, stating, “This acquisition marks a turning point for MoonPay. We’ve built trusted ramps that brought millions into crypto; now we’re building the global network that will move money across every form and in every market.” He emphasized that Aghareza and Mills’ extensive experience in the industry positions them as ideal leaders to facilitate the connection between banks, card networks, stablecoins, and blockchains.
Established in 2019, MoonPay is reportedly in discussions for a new funding round that could elevate its valuation beyond the $3.4 billion mark reached in 2021. Soto-Wright indicated that the company achieved profitability last year and expects even stronger performance by 2025 in terms of earnings and cash flow. A representative from MoonPay declined to comment on the ongoing funding discussions.
Earlier in the year, MoonPay made notable additions to its infrastructure with the acquisition of Iron, a stablecoin platform, in March, and Helio, a Solana-based crypto payment processor, in January. Helio, founded in 2022, aims to streamline cryptocurrency transactions for merchants and creators, further enhancing MoonPay’s capabilities in the crypto payments landscape.
