MoonPay acquired crypto deposits infrastructure startup Glide, integrating cross-chain deposit technology into its payments stack. The acquisition brings Glide's engineering team, technology and customer base into MoonPay, strengthening the company's MoonPay Deposits product, though financial terms were not disclosed. The move addresses crypto's persistent onboarding bottleneck, where users often abandon applications when required to bridge assets between blockchains or navigate multiple funding methods before accessing services. Founded in 2023 by former Robinhood crypto wallet leaders Tushar Soni and Qinyu Tong, Glide developed infrastructure allowing users to fund crypto wallets using assets held across different blockchains, exchanges, wallets and payment methods, processing more than $100 million in annual transaction volume across over 100 digital assets and 30 blockchain networks.
Glide Technology Removes Cross-Chain Deposit Friction
Glide's technology creates a routing layer capable of accepting deposits from virtually any source while automatically determining the fastest and most cost-effective path to the destination wallet. The infrastructure routes transactions through instant relayers or bridge-and-swap mechanisms depending on network conditions, while settling transfers through self-custodial escrow smart contracts that remain verifiable onchain. The platform supports more than 100 tokens across 30 blockchain networks while handling transfers ranging from retail-sized deposits to multi-million-dollar transactions.
MoonPay said integrating this technology into MoonPay Deposits allows partners to offer a single funding experience regardless of which token, blockchain or payment method users already hold. "We built Glide so users could fund their wallets quickly with the tokens they already have and for apps to streamline their onboarding," said Tushar Soni, CEO and co-founder of Glide. "Joining MoonPay lets us combine our deposits product with everything else MoonPay offers, like ramps, virtual accounts, and swaps, and bring that to the largest apps in the world."
MoonPay Expands Beyond Fiat On-Ramps Into Full Payments Stack
The acquisition fits into MoonPay's strategy of expanding beyond its original fiat-to-crypto on-ramp business into a full payments infrastructure provider. Over the past several years, the company added services including crypto off-ramps, token swaps, recurring purchases, virtual accounts and payment infrastructure designed for wallets, exchanges and decentralized applications. Adding Glide gives MoonPay control over another key stage of the funding process, allowing partners to source deposits, convert assets and settle transactions through a single provider instead of integrating multiple infrastructure vendors.
"Deposits are a natural starting point for new users to bring funds onto the platform," said Ivan Soto-Wright, co-founder and CEO of MoonPay. "Glide has built some of the best deposit technology in the market. Bringing their team into MoonPay accelerates our deposits strategy and puts us at the center of where this category is headed."
Former Robinhood Team Founded Glide in 2023
Glide was founded in 2023 by Tushar Soni and Qinyu Tong, who previously helped develop Robinhood's crypto wallet. The startup attracted backing from Y Combinator and Titan Fund as demand increased for infrastructure capable of simplifying cross-chain asset transfers. The company's architecture uses self-custodial escrow contracts, allowing users to retain control over their assets throughout the transfer process while enabling transactions to settle almost instantly across supported networks.
Infrastructure Competition Shifts From Fiat Conversion to Cross-Chain Movement
The acquisition reflects how competition in crypto payments has evolved beyond traditional fiat on-ramp services. As stablecoins, tokenized assets and multi-chain ecosystems become more widely used, infrastructure providers are increasingly competing to simplify movement between blockchains rather than simply converting fiat currencies into cryptocurrencies. For exchanges, wallets and decentralized applications, reducing onboarding friction can have a direct impact on user acquisition and retention.
MoonPay said MoonPay Deposits, now enhanced by Glide's technology, is available immediately for partners.
FAQ
What did MoonPay acquire and why?
MoonPay acquired Glide, a crypto deposits infrastructure startup founded in 2023, to integrate cross-chain deposit technology into its MoonPay Deposits product. The acquisition addresses crypto's onboarding bottleneck by allowing users to fund wallets using assets held across different blockchains, exchanges, wallets and payment methods without manual bridging or token swaps.
How much transaction volume does Glide process?
Glide processes more than $100 million in annual transaction volume across over 100 digital assets and 30 blockchain networks. The platform's routing technology handles transfers ranging from retail-sized deposits to multi-million-dollar transactions through self-custodial escrow smart contracts.
Who founded Glide and what is their background?
Glide was founded in 2023 by Tushar Soni and Qinyu Tong, who previously helped develop Robinhood's crypto wallet. The startup attracted backing from Y Combinator and Titan Fund as demand increased for cross-chain asset transfer infrastructure.
