Crypto payments company MoonPay has acquired Meso, a firm specialising in connecting traditional financial systems with digital currencies.
Meso offers multi-chain and token support on platforms such as Ethereum, Solana, Base, Bitcoin, and Polygon.
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It also supports payment methods including debit cards and Apple Pay, according to Meso’s website.
Financial specifics of the deal remain undisclosed.
The acquisition aims to enhance its international payments network, which seeks to link various financial entities under a regulatory framework, MoonPay said.
Meso’s co-founders will now be part of the MoonPay team, with Ali Aghareza, the chief technology officer (CTO) of Meso, stepping into the role of CTO at MoonPay.
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By GlobalDataAghareza was part of the engineering team at Braintree after its acquisition by PayPal.
He co-founded Meso in 2022, establishing it as an infrastructure ally for fintech and crypto platforms.
Ben Mills, also a co-founder of Meso, will take on the role of senior vice president of product at MoonPay.
Mills has a history of creating payment products and has held leadership positions at Braintree, Venmo, Thinkful, and Chegg.
His contributions to payment innovation at Solana preceded his co-founding of Meso.
MoonPay co-founder and CEO Ivan Soto-Wright said: “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.
“Ali and Ben’s track record at Braintree, Venmo, and PayPal makes them the ideal leaders to help us connect banks, card networks, stablecoins and blockchains into one system.”
Founded in 2019, MoonPay is also in discussions for a new round of funding that could increase its valuation beyond the $3.4bn mark achieved in 2021, according to Bloomberg.
Soto-Wright shared with Bloomberg that the company was profitable in the previous year and is on course for an even stronger performance by 2025 in terms of earnings and cash flow.
A representative for MoonPay refused to comment on the funding talks.
Earlier in the year, MoonPay expanded its infrastructure with the acquisition of Iron, a stablecoin platform, in March, and Helio, a Solana blockchain-based crypto payment processor, in January.
Helio was founded in 2022 and focuses on simplifying cryptocurrency transactions for merchants and creators.
