Payment company Modern Treasury acquires stablecoin startup Beam for $40 million

ChainCatcher news, according to Fortune, payment company Modern Treasury announced the acquisition of stablecoin startup Beam for $40 million. According to a source familiar with the matter, this acquisition is an all-stock deal.

Beam, founded in 2022, provides software for banks and other businesses to send and receive stablecoins (i.e., cryptocurrencies pegged to underlying assets like the US dollar).