Crypto-payment firm MoonPay announced the acquisition of a payments startup Meso this week. The development comes at a time when MoonPay is in the process of mapping out its plan to transform into a global payments network.
For now, the financial details related to this deal remains undisclosed. Announcing the development, MoonPay said that Meso’s co-founders will be joining the company in key roles.
Ali Aghareza, Meso’s Chief Technology Officer (CTO), will be joining MoonPay as its CTO. Ben Mills, Meso’s Co-founder meanwhile, will take on the role of the Senior Vice President of Product.
With the Meso acquisition, the Manhattan-based company wishes to develop solutions to bridge the gap between crypto and traditional finance.
“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,” said MoonPay co-founder and CEO, Ivan Soto-Wright as commenting on the situation. “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.”
MoonPay is gradually planning to transform its platform into a one-stop destination to allow users to pay, get paid, and interact with money in any form.
In alignment with its plans, the company has added two other firms to its list of acquisitions. In January this year, MoonPay purchased crypto payment firm Helio for $175 million. In addition, the firm also acquired stablecoin infrastructure startup Iron to explore stablecoin services.
As part of its ongoing restructuring, however, Moonpay also reportedly laid off 10 percent of its workforce back in June.
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