The cryptocurrency platform MoonPay has announced its acquisition of Iron, a stablecoin infrastructure company that specializes in APIs, through a statement released on Thursday.
This purchase is poised to significantly enhance MoonPay’s suite of enterprise services, enabling businesses to process payments in stablecoins.
While the exact financial details of the acquisition were not disclosed, a report suggested that the deal is valued at a minimum of $100 million.
There’s a surge in mergers and acquisitions within the crypto industry. Last month, it was reported that options exchange Derebit is in discussions for a potential acquisition, attracting interest from multiple buyers. Additionally, crypto trading platform BitMEX is on the lookout for a buyer.
In a notable transaction last October, payment processing giant Stripe agreed to acquire the stablecoin platform Bridge for $1.1 billion, marking the largest acquisition in the crypto space by a major payment company thus far.
“This acquisition is a strategic advancement, placing MoonPay at the leading edge of enterprise-level stablecoin solutions,” stated Ivan Soto-Wright, CEO of MoonPay, in the announcement.
Earlier this year, MoonPay also acquired Helio, a crypto payment processor powered by Solana, for $175 million.
Read more: MoonPay Purchases Crypto Payment Processor Helio for $175M