Cryptocurrency payment company MoonPay has acquired stablecoin company Iron

ChainCatcher news, according to CNBC, cryptocurrency payment giant MoonPay is intensifying its push into 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.

MoonPay co-founder and CEO Ivan Soto-Wright stated in an interview, "We believe that everyone will have a digital currency wallet, whether it's within a bank account or existing independently. And we are building backward compatibility with the existing financial system."

Soto-Wright compared this acquisition to PayPal's acquisition of Braintree, which handled credit card transactions for companies like Meta, with a total payment volume of nearly $600 billion last year. Soto-Wright said, "This is our Braintree moment; Iron's technology positions MoonPay to become the authoritative infrastructure provider for enterprise stablecoin solutions."