MoonPay Acquires Iron To Enhance Stablecoin Payments
Hey Payments Fanatic!
MoonPay is once again expanding its reach in crypto payments with the acquisition of Iron, an API-first stablecoin infrastructure platform. Having already simplified access to the crypto economy by integrating traditional payment methods like debit cards, bank transfers, PayPal, Venmo, Apple Pay, and Google Pay, MoonPay now seeks to enhance its capabilities further.
The deal, reportedly valued in the nine-digit range, will allow businesses using MoonPay to accept stablecoin payments, enabling instant, cost-efficient, and borderless transactions.
This marks MoonPay’s second major acquisition this year, following its $175 million purchase of Helio in January.
Ivan Soto-Wright, MoonPay's CEO, highlighted the company’s long-term vision, stating, “We think everyone is going to have a digital currency wallet, whether it’s inside of a bank account or independently. And we build a backwards compatibility to the existing financial system.”
This acquisition follows just 1 month after Stripe finalized its $1.1 billion deal to acquire Bridge Network, marking a key move for both Stripe and the broader crypto ecosystem. With this acquisition, MoonPay is positioning itself to challenge Stripe, merging fiat and crypto payments providers start to compete in a single market.
MoonPay, serving over 30 million accounts across 180 countries, was last valued at $3.4 billion in 2021 and remains cash-flow positive.
Check out more global Payments updates below👇, and I’ll see you again on Monday!
Cheers,
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