Crypto payments company MoonPay looks to compete with Stripe with Iron stablecoin acquisition
MoonPay, a leading crypto payments company, has acquired Iron, an API-driven startup specializing in stablecoin infrastructure.
Crypto payments giant MoonPay is expanding its push into the enterprise market with the acquisition of Iron, an API-first stablecoin infrastructure startup.
This marks MoonPay's second significant acquisition in two months, underscoring its ambition to dominate the rapidly growing stablecoin payments market.
"We think everyone is going to have a digital currency wallet, whether it's inside of a bank account or independently. And we build a backwards compatibility to the existing financial system," MoonPay Co-Founder and CEO Ivan Soto-Wright told CNBC's "Squawk Box" in an exclusive interview.
Already, MoonPay makes it easier for people to participate in the new crypto economy by enabling onboarding through most traditional payment rails, including debit cards, bank accounts, PayPal, Venmo, Apple Pay, and Google Pay.
Now, with Iron, MoonPay can offer businesses the ability to accept stablecoin payments, unlocking instant, low-cost, and borderless transactions.