According to CNBC, encrypted payment giant MoonPay is increasing its efforts to enter the enterprise market by acquiring API first stablecoin infrastructure startup Iron. This is MoonPay's second major acquisition in two months, highlighting its ambition to capture the rapidly growing stablecoin payment market.
Ivan Soto Wright, co-founder and CEO of MoonPay, said in an interview, "We believe that everyone will have a digital currency wallet, whether it's in a bank account or exists independently. And we have built backward compatibility with the existing financial system." Soto Wright compared this acquisition to PayPal's acquisition of Braintree, which processes credit card transactions for companies such as Meta, with a total payment of nearly $600 billion last year. Soto Wright said, "This is our Braintree moment, and Iron's technology makes MoonPay poised to become the authoritative infrastructure provider for enterprise stablecoin solutions
