Crypto payments company MoonPay pushes further into enterprise with Iron stablecoin acquisition

Crypto payments giant MoonPay is expanding its push into the enterprise market with the acquisition of Iron, an API-first stablecoin infrastructure startup.

This marks MoonPay’s second significant acquisition in two months, underscoring its ambition to dominate the rapidly growing stablecoin payments market.

“We think everyone is going to have a digital currency wallet, whether it’s inside of a bank account or independently. And we build a backwards compatibility to the existing financial system,” MoonPay Co-Founder and CEO Ivan Soto-Wright told CNBC’s “Squawk Box” in an exclusive interview.

Soto-Wright compared the acquisition to when PayPal bought Braintree, which handles credit card processing for companies like Meta and processed nearly $600 billion in total payment volume last year. 

“This is our Braintree moment,” said Soto-Wright. “Iron’s technology positions MoonPay to become the definitive infrastructure provider for enterprise stablecoin solutions.”