The cryptocurrency app MoonPay announced on Thursday that it has acquired Iron, an API-focused stablecoin infrastructure platform. This acquisition will enhance MoonPay’s enterprise offerings, allowing businesses to accept stablecoin payments.
While the acquisition price was not disclosed, a report stated that the deal was valued at least $100 million.
Merger and acquisition activity in the cryptocurrency industry is increasing. Options exchange Derebit is currently in talks for acquisition, and BitMEX is also seeking a buyer. In a significant move last year, Stripe acquired stablecoin platform Bridge for $1.1 billion, marking the largest crypto acquisition by a major payments company.
CEO of MoonPay, Ivan Soto-Wright, commented on the acquisition, stating, “This acquisition is a strategic step forward, positioning MoonPay at the forefront of enterprise-grade stablecoin solutions.” MoonPay had previously purchased Helio, a Solana-powered crypto payment processor, in January.
