MoonPay has acquired Glide, a startup that lets applications accept crypto deposits from any token, wallet, exchange or card, bringing the startup's technology and team into the company.
The transaction was an all-equity deal, Glide co-founder and CEO Tushar Soni told The Block, declining to disclose the size of the deal. The companies began discussing the acquisition late last year, and the transaction has now closed, Soni said.
Glide was founded in 2023 by Soni and Qinyu Tong, who previously worked together on the team that built Robinhood's crypto wallet. MoonPay said Glide is backed by Y Combinator, Titan Fund and other investors, though Soni declined to disclose how much Glide has raised to date. Glide has four employees, including the two co-founders, and all are joining MoonPay, Soni said.
Glide developed technology that lets apps accept crypto deposits without requiring users to manually bridge or swap assets across blockchains, helping reduce onboarding friction. MoonPay said Glide supports deposits and payments across more than 100 tokens and 30 blockchain networks and processes more than $100 million in annualized transaction volume. The company said its routing technology automatically chooses the fastest and lowest-cost way to move funds across blockchains. Deposits are handled through self-custodial smart contracts that allow users to keep control of their assets while making transactions verifiable onchain.
