MoonPay acquisition of the encryption payment startup Meso Network, attracting former PayPal and Venmo executives

According to Mars Finance, MoonPay Inc. has acquired the Crypto Assets payment startup Meso Network, advancing towards building a global Payment Network that supports both Crypto Assets and fiat currencies, allowing for more direct competition with companies like Circle Internet Group Inc. and Visa Inc. The terms of the protocol 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 revealed that MoonPay is in talks with investors for a new round of financing, with a 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, following the acquisitions of Iron, Helio, and an unannounced deal with Decent.xyz.