MoonPay acquires Iron in effort to boost stablecoin payments

Moonpay acquired Iron, a Stablecoin infrastructure startup in API, as part of improving its business payment solutions.

This marks the countries of the moon Second major acquisition In two months, strengthening its ambition to direct the growing sector of Stablecoin payments.

With Iron technology, Moonpay aims to offer companies instant stable transactions, at low cost and borders. The agreement reflects the acquisition by Paypal de Braintree, who helped establish his domination in the processing of credit cards.

“This is our Braintree moment”, the CEO of Moonpay Ivan Soto-Wright said CNBC.

THE stable The market experienced 27 billions of dollars in transactions in 2024, companies adopting more and more payments based on blockchain.

Moonpay’s expansion comes in the middle of Stripe’s competition, which recently acquired Bridge Network in an agreement of $ 1.1 billion. Moonpay, valued at $ 3.4 billion, said a 112% increase in net income in 2024.

Last October, Venmo in partnership With Moonpay, allowing its 60 million American users to buy crypto using their Veno sales.

CNBC reports have helped this article.