"MoonPay Acquires Stablecoin Infra Specialist Iron for Wider Enterprise Payment Offerings"
MoonPay Acquires Stablecoin Infrastructure Platform Iron for Over $100 Million
MoonPay, a leading crypto payments provider, has announced the acquisition of API-first stablecoin infrastructure platform Iron for a reported value of at least $100 million. This marks MoonPay's second major acquisition in the past two months, following the purchase of Helio, a crypto payments processing infrastructure provider, for $175 million in January.
Ivan Soto-Wright, Co-Founder and CEO of MoonPay, described crypto payments as an "internet-driven payment method you'll see all across the world." He further stated that stablecoins are going to be a very important part of skipping the technology jump for real-time payments. Soto-Wright also expressed his vision that everyone will have a digital currency wallet in the future, and MoonPay aims to build a backwards compatibility to the existing financial system.
Iron, founded in 2018, is a platform designed to help developers and applications manage the issuance, operations, and scalability of stablecoins efficiently. Its purpose is to serve as a critical technology layer for stablecoin payments, enabling fast, compliant, and seamless integration of stablecoins into various financial services and consumer applications.
With the acquisition, MoonPay gains access to Iron's developer-first APIs that enable companies to move money in real-time, manage multi-currency treasuries, and generate new revenue streams from yield-bearing assets like U.S. treasuries. This will help MoonPay expand its services and attract more enterprise clients to the crypto industry.
One significant application of Iron's technology is in powering stablecoin payment systems. For example, MoonPay leverages Iron’s infrastructure to enable Mastercard’s stablecoin payment cards, which convert stablecoins (like USDC, USDT, DAI) to fiat currency instantly at the point of sale. This reduces volatility risk for merchants and increases usability globally, enabling payments at over 150 million merchants worldwide.
The acquisition further accelerates MoonPay’s strategy to onboard enterprises into the crypto industry amid high expectations that the Trump administration will deliver clear regulations for digital assets. Soto-Wright compared MoonPay's acquisition of Iron to PayPal's purchase of Braintree, which handles credit card processing for companies like Meta.
Iron's technology positions MoonPay to become the definitive infrastructure provider for enterprise stablecoin solutions. The acquisition aligns with MoonPay’s broader mission to "upgrade money for the internet" by integrating stablecoins seamlessly with existing financial systems and making payments faster, cheaper, and more borderless.
In a statement, MoonPay stated that with Iron's technology, they are putting the power and speed of stablecoins into the hands of enterprises, fintechs, and global merchants. The acquisition is a significant step for MoonPay in its mission to make crypto accessible to everyone.
Last year, MoonPay reported a revenue growth of 112%, compared to the prior year. With the acquisition of Iron, MoonPay is poised to further expand its reach and strengthen its position in the crypto payments market.
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- Given the acquisition of Iron, a stablecoin infrastructure platform, MoonPay is now positioned to leverage real-time money transfer capabilities through their APIs, further expanding their investing opportunities in the realm of finance and technology.
- With the integration of Iron's technology, MoonPay aims to onboard more enterprise clients to the crypto industry, revolutionizing the way financial services handle stablecoins, ultimately making investments in digital currencies more feasible and ubiquitous.
