MoonPay acquisition of the encryption payment startup Meso Network accelerates the layout of the global Payment Network to challenge Circle and Visa.

According to Bloomberg, MoonPay Inc. has acquired the crypto payment startup Meso Network, aiming to compete more directly with companies like Circle Internet Group Inc. and Visa Inc. in building a global payment network that supports Crypto Assets and fiat currencies. The specific terms of the deal have not been disclosed.

The Purpose and Strategic Layout of MoonPay's Acquisition

MoonPay CEO Ivan Soto-Wright stated that the acquisition of Meso will enable MoonPay to provide stronger support for bank channels in the U.S. (such as electronic transfers and real-time payments) and improve its developer platform to help other companies better integrate with the products of this New York-based company. According to the company's statement on Monday, Meso's co-founders Ali Aghareza and Ben Mills will hold executive positions at MoonPay, serving as Chief Technology Officer and Senior Vice President of Product, respectively. Aghareza previously led the engineering team at Braintree, a division of PayPal Inc., while Mills was the product lead at Venmo.

MoonPay's software is designed to help investors more easily convert between fiat currency and Crypto Assets, connecting various digital financial providers, decentralized finance platforms, and cryptocurrency exchanges. A knowledgeable source revealed that MoonPay was founded in 2019 and is in talks with investors for a new round of financing that will push its valuation above the $3.4 billion record set in 2021. A MoonPay spokesperson declined to comment on this.

Build a global network of "Anywhere Payment"

A MoonPay spokesperson stated that the acquisition of Meso Network is the company's fourth acquisition this year, having previously acquired startups such as Iron, Helio, and Decent.xyz. Soto-Wright mentioned that these acquisitions contribute the necessary components for MoonPay to create a unified global Payment Network, such as virtual bank accounts and the ability to use Crypto Assets for payments on e-commerce platforms like Shopify. In an interview, Soto-Wright said, "You should be able to go to any business, any merchant, and pay with anything, whether it's dollars, euros, or Bitcoin. This is ultimately what we want to build through your MoonPay account, connecting all these different payment methods and providing you with a seamless experience."

Soto-Wright stated that the company achieved profitability last year and added that 2025 is expected to be its best year ever in terms of metrics such as revenue and cash flow. In recent years, Crypto Assets and payment companies have been steadily working to build connecting organizations among financial institutions, digital wallets, and banking applications, thanks to the growing demand for products like stablecoins and clearer global regulations. In April, stablecoin issuer Circle announced the launch of Circle Payments Network to achieve this goal, while traditional giants like Visa, PayPal, and Stripe Inc. have also made significant investments in digital asset capabilities.

MoonPay Real Layout

Unlike the timeline mentioned in the article, the acquisition of Helio and Decent.xyz by MoonPay has actually been completed in recent years. Helio is a Solana-based Crypto Assets payment company, while Decent.xyz is an on-chain Payment Network tool provider. The purpose of these acquisitions aligns with what is stated in the article, namely to expand MoonPay's Crypto Assets payment services to support the purchase of Crypto Assets through methods such as credit cards, bank transfers, and mobile payments.

In addition, MoonPay faces challenges on its path of rapid expansion. According to a report by The Block in June, MoonPay laid off 10% of its staff due to its high cost structure and lower-than-expected operating profits. Nevertheless, the company raised $555 million in its Series A funding in 2021 at a valuation of $3.4 billion, demonstrating the market's recognition of its vision to build a bridge between the world of Crypto Assets and traditional finance.

Conclusion

MoonPay's latest moves resonate with the actions of its competitors Circle and traditional payment giants, together outlining a blueprint for a future Payment Network that is taking shape. In this network, Crypto Assets will no longer be isolated assets but will serve as payment tools seamlessly integrated with the traditional financial system. However, the realization of this vision is not without challenges, as market volatility, regulatory uncertainty, and cost control will be ongoing tests that MoonPay needs to face in its future development.