Cryptocurrency infrastructure service provider MoonPay USA LLC announced today that it has acquired cryptocurrency payment platform startup Helio Fintech Ltd. to expand decentralized finance, creator commerce and trading infrastructure.

Though the acquisition price was not formally disclosed, Fox Business reported that the deal was closed for a healthy $175 million.

Founded in 2022, Helio offers a cryptocurrency checkout platform designed to streamline the process for merchants and creators to accept digital payments. The company’s range of solutions is tailored to diverse business needs, providing services such as allowing merchants to create “Pay Links” to share checkout links for selling products or services with instant payment options in cryptocurrencies such as USDC.

The Helio platform provides e-commerce plugins for popular platforms like Shopify Inc. and WooCommerce for integration of crypto payments into existing online stores. For other platforms, the company offers an application programming interface and checkout embed features for customized websites and applications.

Helio’s payment platform supports multiple blockchains, including Solana, bitcoin and Ethereum, along with the ability to pay with more than 100 cryptocurrencies.

Coming into its acquisition, Helio has more than 6,000 business customers and processes more than $1.5 billion in annual transactions. Notable customers include Magic Eden Inc., Hivemapper Inc., Solana Labs Inc., Star Atas LLC, Layer Zero Labs Inc. and Polygon Labs. Pte. Ltd.

Moonpay plans to use Helio’s technology to expand its trading and marketplace volume by combining Helio’s capabilities with its own extensive product ecosystem.

“This acquisition is an important step in advancing our vision for the future of payments,” Ivan Soto-Wright, co-founder and chief executive officer of Moonpay, said in a statement. “Helio’s technology and expertise strengthen our ability to deliver efficient, secure and scalable solutions for crypto commerce, trading infrastructure and marketplaces. With MoonPay and Helio combined, we now offer the most comprehensive product for on-chain payments.”

In an impressive return for its investors, Helio is being acquired after having only raised $3.3 million in venture capital funding, according to data from Tracxn. Investors set to get a big payday include Lightspeed Venture Partners Management, Peak Games Yazılım ve Pazarlama A.Ş., RockawayX Blockchain Ventures s.r.o, Solana, Alphanet Angles and Walker Global Ventures.

Image: Helio