MoonPay Gains MiCA Approval and Expands Crypto Services in Europe

Highlights:

• MoonPay gets MiCA approval and expands crypto payment services across Europe under new regulations.  
• MoonPay plans to buy Helio Pay for $150 million to grow its merchant and e-commerce services. 
• MiCA framework creates clear rules and builds trust in the European crypto market.  

MoonPay has received approval under the European Union’s Markets in Crypto-Assets (MiCA) regulation. The license was granted by the Dutch Authority for the Financial Markets. The regulation lays down a coordinated European Economic Area (EEA) framework for digital assets. Its primary focus is consumer protection, transparency, and market stability.  

🏆 achievement unlocked

✅ we've received approval under the Markets in Crypto-Assets (MiCA) regulation in The Netherlands

🌍 this enables MoonPay to innovate crypto payments across Europe!

🫡 2025 is going to be big pic.twitter.com/adLjntXhLo

— MoonPay 🟣 (@moonpay) December 30, 2024

MoonPay adheres to the high MiCA standards by acquiring the license. The company is in a position to expand its services in Europe. Users from over 180 countries can pay with fiat or crypto using MoonPay’s fiat-to-crypto and crypto-to-fiat solutions. It supports over 100 digital assets. The MiCA regulation comes into effect today across Europe.  

Impact of the Regulation on the Market

MiCA is designed to bring clarity and stability to a still-developing cryptocurrency industry. It creates clear rules for operating digital assets in the EEA. This framework is meant to increase trust in crypto services.  

The compliance with MiCA by MoonPay highlights its dedication to regulatory excellence. The company sees this as a turning point for Europe’s crypto landscape. By following MiCA’s guidelines, MoonPay strengthens its position as a trusted crypto payments provider. The regulation pushes companies to adopt higher standards of operations. It also brings businesses in the EEA to a level playing field. 

Coinbase delisted Tether’s USDT in mid-December. After Coinbase’s USDT delisting, the stablecoin has continued trading across the EU. Many exchanges are awaiting more clarity from European authorities on USDT’s compliance with MiCA. Kraken also delisted Monero (XMR) in October due to MiCA regulations.

MoonPay Set to Acquire Helio Pay

According to reports, MoonPay is set to acquire Helio Pay, a cryptocurrency e-commerce platform. The deal is reportedly worth about $150 million. If approved this will be the largest acquisition for MoonPay to date.

🚀 MoonPay acquires HelioPay for $150M to rival Coinbase Commerce! 💸 Expanding reach to 6K+ merchants, including Shopify. A new era for crypto e-commerce begins! 🌕 https://t.co/jpAEpfHfWE#CryptoPayments #MoonPay pic.twitter.com/UDWWc2nZhq

— Techtoken (@Techtoken_in) December 24, 2024

Helio Pay manages crypto payments for over 6,000 e-commerce merchants and content creators. The featured payment methods include Bitcoin, Ether, and stablecoins, such as USD Coin. The platform also integrates Solana Pay on Shopify, which has 138 million monthly users. MoonPay currently serves over 20 million users across 160 countries.

Strengthening the Bridge Between Crypto and E-Commerce

MoonPay has redesigned some features to improve user experience. The fiat to crypto on ramp solution made assets easy to purchase. MoonPay Balance allows users to store and spend fiat while using DeFi protocols.  

The acquisition of Helio Pay will help reach more traders through Helio Pay’s self-service platform. The move would bring together crypto with traditional e-commerce more closely. MoonPay has received backing from investors like Paradigm and Coatue. The company also participates in advocacy, making contributions of $1 million to Stand With Crypto.  

Earlier this year, MoonPay let 10% of its staff go as it seeks to reduce costs. The move, Ivan Soto-Wright said, solidified the company’s financial foundations.