MoonPay Acquires Rhythm for Onchain Trading Expansion

MoonPay has acquired Rhythm, expanding its presence in onchain trading and further diversifying its services. The acquisition of Rhythm's technology and co-founders brings MoonPay closer to offering a comprehensive suite of financial tools for its global customer base.

Rhythm was founded with the goal of streamlining onchain trading by integrating multiple functions, including discovery, automation, execution, and risk management, into one platform. The platform's technology now becomes part of MoonPay's growing trading infrastructure.

The co-founders of Rhythm bring significant experience in building high-frequency DeFi trading systems and other transaction-heavy software to the table. Joseph Murphy, Chief Product Officer at Rhythm, previously co-founded Minty Finance, where he helped build a system responsible for more than $7 million in executed trades.

This acquisition marks another step in MoonPay's expansion beyond its original role as a crypto payments platform. With over 30 million customers worldwide and a presence in over 180 countries, MoonPay continues to solidify its position as a major player in the global fintech landscape.