MoonPay acquires Solana DEX infrastructure firm DFlow for $100M in stock!

MoonPay has acquired DFlow in an all-stock deal valued at approximately $100 million, according to Fortune. DFlow specialises in trade routing and DEX aggregation on Solana, and has recently accounted for 5–10% of trading volume across Solana-related platforms — a meaningful slice of one of the most active chains in crypto.

The scale of DFlow's operation puts the acquisition in context: the platform processed more than $12 billion in transaction volume in Q1 2026 alone. For MoonPay, folding in that routing infrastructure signals a clear push beyond fiat on-ramps into the full trading stack.

The all-stock structure keeps MoonPay's cash reserves intact while giving DFlow's team a stake in the combined entity — a sign both sides are betting on long-term upside rather than a quick exit.