Crypto payment processor MoonPay has announced the acquisition of Meso Network (website), a crypto payment infrastructure startup specializing in bridging traditional banking systems and cryptocurrencies—a move designed to advance MoonPay’s ambition of building a global, regulated payments network that serves fintech, casino, and gaming sectors, among others.
Transaction Details
- Nature of Deal: MoonPay acquired Meso for an undisclosed sum, integrating its API-based technology for seamless connections between classic finance rails (like ACH and real-time payments) and major blockchains.
- Leadership Changes: Meso founders—seasoned fintech veterans formerly with Braintree, Venmo, and PayPal—take senior roles at MoonPay to accelerate product innovation and developer integration.
- Strategic Rationale: The deal strengthens support for US banking networks, enhances developer tools, and solidifies MoonPay’s edge against competitors like Visa and Circle, especially in high-risk sectors like gambling and casinos.
MoonPay’s Role in Online Gambling
Recent investigations, including FinTelegram’s analysis, have exposed MoonPay’s ongoing facilitation of payment services for a variety of online casinos—some of which operate without recognized licenses and are therefore classified as illegal by regulators:
Read our report on MetaWin here.
- MoonPay acts as the primary payment gateway for MetaWin, a crypto casino, enabling customers to fund accounts with fiat or crypto through its platform, even in jurisdictions where gambling licenses are absent or expired.
- The firm’s crypto ramp lets consumers bypass KYC controls by leveraging its integrations, thus supporting offshore and unregulated gambling operations.
Compliance and Regulatory Concerns
- Licensing: Despite possessing Money Transmitter licenses in 47 US states, and BitLicense/MiCA registrations, MoonPay’s business development in high-risk sectors raises questions about its diligence and risk controls.
- Regulatory Evasion: Authorities face challenges due to the structure MoonPay provides: customers buy cryptocurrency through MoonPay and instantly transfer funds to casino-controlled wallets, circumventing chargeback and AML mechanisms.
- Reported Issues: Multiple independent sources flag MoonPay’s willingness to serve casinos flagged by regulators for illegal activity, contributing to an environment where unlicensed gambling flourishes under the guise of regulated payments tech.
Critical Analysis
MoonPay’s acquisition of Meso Network extends its influence and technical reach, especially into contentious and poorly supervised areas such as online gambling. The repeated disclosures by FinTelegram and compliance observers suggest MoonPay‘s risk controls may be insufficient for the scale and impact of its sector involvement, particularly regarding unlicensed casino schemes.
As MoonPay continues acquiring and integrating payment startups, regulatory scrutiny and critical inquiry into its facilitation of risky business models—in violation of financial crime and licensing rules—should intensify.
