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

ChainCatcher news, according to Bloomberg, MoonPay Inc. has acquired the cryptocurrency payment startup Meso Network, moving towards building a global payment network that supports both crypto and fiat currencies, allowing for more direct competition with companies like Circle Internet Group Inc. and Visa Inc. The terms of the agreement 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, both having previously worked at PayPal's Braintree division and Venmo.

Insiders have revealed that MoonPay is in talks with investors for a new round of financing, with its valuation expected to rise 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, having previously acquired Iron, Helio, and the unannounced Decent.xyz.