MoonPay Acquires Iron to Add Enterprise-Grade Stablecoin Solutions
Crypto payments company MoonPay said Thursday (March 13) that it expanded its enterprise offerings by acquiring API-first stablecoin infrastructure platform Iron.
Iron’s application programming interfaces (APIs) provide solutions for enterprises; FinTechs and payment processors; and marketplaces and merchants, MoonPay said in a Thursday press release emailed to PYMNTS.
For enterprises, this technology means they can move money in real time, manage multi-currency treasuries and move funds across borders in seconds, according to the release.
FinTechs and payment processors can use the technology to offer fast, secure and compliant payments by integrating stablecoin rails, the release said.
Marketplaces and merchants can use the technology to accept stablecoins, settle instantly and avoid traditional payment networks’ fees, per the release.
With the addition of Iron, MoonPay now offers stablecoin payments; treasury and liquidity management; 24/7 money movement; and built-in anti-money laundering (AML), know your customer (KYC) and risk management, according to the release.
“This acquisition is a strategic step forward, positioning MoonPay at the forefront of enterprise-grade stablecoin solutions,” MoonPay CEO Ivan Soto-Wright said in the release. “With Iron’s technology, we’re putting the power of instant, programmable payments into the hands of enterprises, FinTechs and global merchants.”
MoonPay acquired cryptocurrency payment processor Helio in January, saying it plans to expand its trading and marketplace volume.
Helio’s suite of payment tools enables marketplaces, apps, trading terminals and decentralized exchanges to accept USDC and other digital currencies. The tools are used by more than 6,000 sellers and over 1 million users.
“Helio’s technology and expertise strengthen our ability to deliver efficient, secure and scalable solutions for crypto commerce, trading infrastructure and marketplaces,” Soto-Wright said at the time in a press release. “With MoonPay and Helio combined, we now offer the most comprehensive product for on-chain payments.”
In December, MoonPay said it secured approval under Europe’s cryptocurrency regulation, Markets in Crypto-Assets (MiCA), that creates a unified regulatory environment for digital assets in the European Economic Area (EEA).
The company said in a press release that this achievement is a sign of its readiness to expand its footprint in the region while maintaining security and compliance.
The post MoonPay Acquires Iron to Add Enterprise-Grade Stablecoin Solutions appeared first on PYMNTS.com.