MoonPay's purchase comes one month after Stripe closed its $1.1 billion deal to buy a different payment infrastructure company called Bridge Network, the largest deal both for Stripe and the crypto ecosystem more broadly.
MoonPay, which has more than 30 million accounts in 180 countries, was last valued at $3.4 billion when it raised its last round of funding in 2021. The company tells CNBC it is cash-flow positive and profitable and that net revenue increased by 112% in 2024 from a year earlier.