MoonPay acquires crypto payment startup Meso Network, bringing on former PayPal and Venmo executives

ChainCatcher news, according to Bloomberg, MoonPay Inc. has acquired the crypto payment startup Meso Network, moving towards building a global payment network that supports both crypto and fiat currencies, and enabling more direct competition with companies such as Circle Internet Group Inc. and Visa Inc. The terms of the deal were not disclosed.

Its CEO Ivan Soto-Wright stated that the acquisition will enhance support for the U.S. banking system and optimize the developer platform to facilitate product integration. Meso co-founders Ali Aghareza and Ben Mills will serve as MoonPay’s Chief Technology Officer and Senior Vice President of Product, respectively. Previously, they worked at Braintree, a PayPal subsidiary, and Venmo.

According to sources familiar with the matter, MoonPay is in talks with investors for a new round of financing, with its valuation expected to rise further from $3.4 billion in 2021. A spokesperson declined to comment. It is reported that the acquisition of Meso Network is MoonPay’s fourth acquisition this year, following the acquisitions of Iron, Helio, and the yet-to-be-announced Decent.xyz deal.