MoonPay acquires stablecoin infrastructure firm Iron in a deal worth at least $100 million
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The crypto payments firm MoonPay acquired the API-focused stablecoin infrastructure company Iron in a "9-figure" deal, meaning worth at least $100 million, a source with direct knowledge of the matter told The Block.
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The acquisition is comparable to Stripe’s acquisition of the stablecoin platform Bridge, and MoonPay’s financial services will now include enterprise-grade stablecoin offerings.
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Businesses can now accept cross-border stablecoin payments and hold multi-currency treasuries or yield-bearing assets, such as U.S. Treasury bills, following this deal. Additionally, MoonPay's stablecoin payments via Iron's API-focused infrastructure will have integrated anti-money laundering protections, know-your-customer protocols and other risk management, according to a release.
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