Financial technology company MoonPay has acquired Glide, a startup firm that lets customers accept cryptocurrency deposits from any token, wallet, exchange, or card.
The takeover's value hasn't been made public but the transaction has been reported as an all-equity deal.
The two companies began discussing the acquisition late last year, and the transaction has now closed, according to MoonPay.
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Glide was founded in 2023 by two former employees of Robinhood Markets (NASDAQ: $HOOD).
Glide currently has four employees, including its two co-founders, and all are joining MoonPay.
Glide has an app that allows users to accept cryptocurrency deposits without the need to manually bridge or swap assets across blockchains, helping to reduce risks.
MoonPay said in a statement that Glide supports deposits and payments across more than 100 tokens and 30 blockchain networks, and processes more than $100 million U.S. in annualized transaction volume.
Glide's routing technology automatically chooses the fastest and lowest-cost way to move funds across blockchains. Deposits are handled through self-custodial smart contracts.
The takeover of Glide marks MoonPay's sixth acquisition this year as the company looks to grow and diversify its products and services.
MoonPay is a financial technology company that operates as a bridge between traditional banking systems and cryptocurrencies. The company calls itself the "PayPal of crypto."
MoonPay is backed by celebrities such as Justin Bieber and Paris Hilton. As a privately held company, MoonPay's stock does not trade on a public exchange.