MoonPay acquires API stablecoin infrastructure platform Iron

Cryptocurrency payments institution MoonPay is expanding its beingness successful the endeavor stablecoin marketplace with the acquisition of Iron, an API-focused stablecoin infrastructure developer, for an undisclosed amount. 

According to a March 13 announcement, the acquisition volition springiness MoonPay’s endeavor customers the quality to judge stablecoin payments instantly and astatine a debased cost. Iron’s integration besides means companies tin negociate their stablecoin treasuries successful existent clip and usage the funds to get yield-bearing assets similar US Treasury bonds. 

Source: MoonPay

“With Iron’s technology, we’re putting the powerfulness of instant, programmable payments into the hands of enterprises, fintechs, and planetary merchants,” said Ivan Soto-Wright, MoonPay’s CEO.

The Iron woody marks MoonPay’s 2nd high-profile acquisition this year. In January, the company acquired Helio, a Solana-based blockchain outgo processor, for $175 million. Helio’s existing integrations with Shopify and Discord springiness MoonPay further inroads into crypto on-ramp services and outgo solutions. 

MoonPay isn’t the lone institution making inroads into stablecoin payments. As Cointelegraph precocious reported, Tether-backed fintech Mansa raised $10 million to further grow its cross-border stablecoin outgo infrastructure.

Related: Bitcoin whitethorn payment from US stablecoin dominance push

Business integrations driving stablecoin adoption

At much than $230 cardinal successful circulation, stablecoins person go 1 of blockchain’s astir viable usage cases. The industry’s occurrence is mostly owed to stablecoin integrations by major fintech outgo providers, according to Polygon Labs CEO Marc Boiron. 

In a caller interrogation with Cointelegraph, Boiron said, “Companies similar Stripe and PayPal integrating stablecoins is apt the superior catalyst for their growth.”

From regulatory scrutiny to wide manufacture adoption, the stablecoin marketplace has grown rapidly since 2020. Source: S&P Global

Boiron said 1 of the industry’s astir promising developments is yield-bearing stablecoins, which let holders to gain decentralized concern output done accepted collateralization. 

Yield-bearing stablecoin alternatives are connected the cusp of a large breakthrough aft the US Securities and Exchange Commission approved the archetypal yield-bearing stablecoin security successful February. The support goes manus successful manus with regulatory efforts to found wide stablecoin laws successful the United States. 

Magazine: Bitcoin payments are being undermined by centralized stablecoins