MoonPay has acquired crypto infrastructure startup Glide to bolster its deposits infrastructure. The deal is part of MoonPay's broader effort to become a digital asset infrastructure provider, adding capabilities beyond its original crypto payments business.
Glide was founded in 2023 by Tushar Soni and Qinyu Tong, former members of the team behind Robinhood Wallet. The company aimed to remove friction from crypto deposits by allowing users to fund wallets from different chains, tokens, wallets, exchanges or cards without manually completing bridges and swaps.
MoonPay CEO Ivan Soto-Wright said the acquisition fits into the company's infrastructure strategy, following recent deals for security, trading and accounting capabilities. He added that Glide addresses one of the biggest pain points in crypto transfers: users losing funds because they send the wrong token on the wrong chain, predicting that future blockchain-based platforms will require infrastructure that makes those complexities invisible.