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

According to ChainCatcher, according to Bloomberg, MoonPay Inc. acquired cryptocurrency payment startup Meso Network, and moved towards building a global payment network that supports both crypto and fiat currencies, which can compete more directly with Circle Internet Group Inc. and Visa Inc., with the terms of the agreement not disclosed. Its CEO Ivan Soto-Wright said the acquisition will improve 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 Chief Technology Officer and Senior Vice President of Products at MoonPay, who have previously worked in PayPal's Braintree division and Venmo respectively. A spokesperson declined to comment, a spokesperson said MoonPay is negotiating with investors about a new round of financing, with a valuation expected to further increase from $3.4 billion in 2021. It is reported that the acquisition of Meso Network is MoonPay's fourth acquisition this year, following a deal between Iron, Helio and the unofficially announced Decent.xyz.