Crypto Payments Company MoonPay Expands Stablecoin Capabilities with Acquisition of Iron
| Key Points: – Crypto payments company MoonPay acquired stablecoin infrastructure startup Iron to enhance its enterprise stablecoin payment solutions. – CEO Ivan Soto-Wright compared the move to PayPal’s Braintree acquisition, positioning MoonPay as a key player in stablecoin transactions. |
Crypto payments company MoonPay is strengthening its position in the corporate market with the acquisition of Iron, a startup specializing in API-driven stablecoin infrastructure.
The move signals MoonPay’s growing focus on enterprise stablecoin solutions, following its acquisition of Solana-based payment processor Helio in January for $175 million.
Crypto Payments Company MoonPay Strengthens Infrastructure with New Acquisition
MoonPay co-founder and CEO Ivan Soto-Wright emphasized the company’s long-term vision, stating that digital currency wallets will become a standard feature, either integrated into bank accounts or functioning independently.
Soto-Wright likened MoonPay’s latest acquisition to PayPal’s purchase of Braintree, which processes transactions for major firms like Meta.
“This is our Braintree moment. Iron’s technology positions MoonPay to become the definitive infrastructure provider for enterprise stablecoin solutions,” said Soto-Wright.
MoonPay Ventures Fuels Fintech and Web3 Growth
The Miami-based company, backed by celebrities and athletes such as Bruce Willis, Snoop Dogg, Gwyneth Paltrow, and Maria Sharapova, has been expanding its influence in the fintech and Web3 sectors. In 2023, it launched MoonPay Ventures to invest in emerging startups in these fields.
Crypto payments company MoonPay has already simplified access to cryptocurrency by integrating traditional payment methods such as debit cards, bank transfers, and platforms like PayPal, Venmo, Apple Pay, and Google Pay.
With the addition of Iron’s technology, the company aims to offer businesses seamless stablecoin payment options, enabling instant, cost-effective, and cross-border transactions.
Beyond its acquisitions, MoonPay has also taken steps to shape the regulatory landscape for digital assets. The company recently joined the Crypto Council for Innovation (CCI), a global organization focused on advocating for cryptocurrency-friendly regulatory policies. CCI engages with lawmakers and regulators to influence the development of frameworks governing the digital asset industry.
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