MoonPay Acquires Meso Network to Forge Global Payments System

Bloomberg.com reports that digital asset firm MoonPay Inc. has acquired crypto payments startup Meso Network. This strategic move aims to establish a global payments network capable of supporting both cryptocurrency and fiat currencies, positioning MoonPay for more direct competition with established financial entities such as Visa Inc. and Circle Internet Group Inc. The financial terms of the acquisition were not disclosed. The primary objective of this acquisition is to strengthen MoonPay's presence and capabilities within traditional financial infrastructure. MoonPay CEO Ivan Soto-Wright stated that acquiring Meso will enable the New York-based company to enhance its support for U.S. banking systems, including improvements to electronic fund transfers and real-time payment functionalities. This integration is designed to create a more robust and versatile payment system, effectively bridging the gap between digital assets and traditional currencies. In addition to bolstering its payment processing infrastructure, the acquisition is expected to enhance MoonPay's offerings for other businesses. Soto-Wright indicated that the deal will lead to an improved developer platform, increasing accessibility for external companies to integrate their services and products with MoonPay's technology. This expansion of MoonPay's ecosystem and reach is a key component of its strategy to build a comprehensive global payments network.