Cryptocurrency payments company MoonPay is expanding its presence in the enterprise stablecoin market with the acquisition of Iron, an API-focused stablecoin infrastructure developer, for an undisclosed amount.
According to a March 13 announcement, the acquisition will give MoonPay’s enterprise customers the ability to accept stablecoin payments instantly and at a low cost. Iron’s integration also means companies can manage their stablecoin treasuries in real time and use the funds to acquire yield-bearing assets like US Treasury bonds.
Source: MoonPay
“With Iron’s technology, we’re putting the power of instant, programmable payments into the hands of enterprises, fintechs, and global merchants,” said Ivan Soto-Wright, MoonPay’s CEO.
The Iron deal marks MoonPay’s second high-profile acquisition this year. In January, the company acquired Helio, a Solana-based blockchain payment processor, for $175 million. Helio’s existing integrations with Shopify and Discord give MoonPay further inroads into crypto on-ramp services