MoonPay acquires crypto payments startup Meso Network, adding former PayPal and Venmo executives

PANews reported on September 16th that MoonPay Inc. has acquired cryptocurrency payments startup Meso Network, moving toward building a global payments network supporting both crypto and fiat currencies, placing it in direct competition with Circle Internet Group Inc. and Visa Inc. Terms of the agreement were not disclosed. CEO Ivan Soto-Wright stated that 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, who previously worked at PayPal's Braintree division and Venmo, will serve as MoonPay's chief technology officer and senior vice president of product, respectively. People familiar with the matter revealed that MoonPay is in talks with investors for a new round of funding, with the company's valuation expected to increase from $3.4 billion in 2021. A spokesperson declined to comment. The Meso Network acquisition is reportedly MoonPay's fourth acquisition this year, following its acquisitions of Iron, Helio, and the unannounced Decent.xyz deal.