MoonPay has decided to venture into the world of stablecoin, acquiring the API-based stablecoin infrastructure company Iron. The renowned crypto payment processing platform wants to use Iron’s technology to serve businesses, fintech, and global merchants.
MoonPay enters the world of stablecoins: the acquisition of Iron
MoonPay, the famous crypto payment processing platform, has announced the acquisition of Iron, the API-based stablecoin infrastructure company.
On X, Ivan Soto-Wright, co-founder and CEO of MoonPay, states that they are ready to enter the “stablecoin game.”
“Breaking news: we have acquired @iron, an API-based stablecoin infrastructure platform! With Iron’s technology, we put the power and speed of stablecoins in the hands of businesses, fintech, and global merchants.”
Thanks to the new acquisition, MoonPay plans to significantly expand its commercial offering. In fact, by using Iron technology, MoonPay aims to offer new services for businesses, fintech, and global merchants.
MoonPay and the acquisition of Iron: stablecoins at the service of companies
MoonPay has therefore decided to acquire the API-based stablecoin infrastructure company, Iron, to provide new solutions to businesses.
Specifically, MoonPay states that for businesses, Iron technology can be used to eliminate slow bank transfers, manage multi-currency treasuries, and move funds across borders in seconds.
Speaking of FinTech and payment processors, MoonPay with Iron will offer new solutions capable of integrating stablecoin rails for fast, secure, and compliant payments.
Not only, for the markets and the traders, MoonPay sees the Iron solution as advantageous for accepting stablecoins, for instant settlement and avoiding the high fees of traditional payment networks.
In this regard, Soto-Wright stated the following:
“This acquisition is a strategic step forward, positioning MoonPay at the forefront of enterprise-level stablecoin solutions. With Iron’s technology, we are putting the power of instant and programmable payments in the hands of businesses, fintech, and global merchants.”
Collaborations with PayPal and Venmo
In the world of payments, MoonPay has already built its own network of collaborations capable of expanding its solutions to increase the adoption of crypto.
Last year, starting in the USA and then extending to the EU and the United Kingdom, MoonPay formed its first partnership with the payment giant PayPal.
In fact, already in May 2024, MoonPay’s USA customers were able to start purchasing their crypto directly from their PayPal account. Immediately in June 2024, the same possibility was extended also to MoonPay customers in the United Kingdom and the EU.
More recently, in October 2024, a triangulation was implemented PayPal – Venmo – MoonPay.
In practice, even the 60 million active Venmo users at that time could have funded their transactions on the MoonPay platform, using their Venmo account balance, linked bank accounts, or credit and debit cards.
