On March 13, 2025, crypto payments titan MoonPay announced its acquisition of Iron, an API-first stablecoin infrastructure startup, marking its second major deal in two months. This strategic move underscores MoonPay’s ambition to cement its dominance in the fast-expanding stablecoin payments sector, a market that saw $27 trillion in transactions in 2024 alone. With Iron’s technology, MoonPay is poised to transform how businesses handle digital payments, offering instant, low-cost, and borderless stablecoin transactions. Here’s why this acquisition could be a game-changer for the enterprise market and the broader crypto ecosystem.
MoonPay’s Vision: A Wallet in Every Pocket
MoonPay co-founder and CEO Ivan Soto-Wright shared his vision in an exclusive CNBC Squawk Box interview: “We think everyone is going to have a digital currency wallet, whether it’s inside of a bank account or independently.” Already a leader in crypto onboarding—supporting traditional payment rails like debit cards, PayPal, Venmo, Apple Pay, and Google Pay—MoonPay is now doubling down on enterprise solutions. The Iron acquisition enables businesses to seamlessly accept stablecoin payments, bridging the gap between legacy finance and blockchain innovation.
Soto-Wright likened this shift to the telecommunications revolution: “It was really expensive to place a long-distance phone call, then you had Skype, then Zoom—all this internet-based technology for communication. The same thing will take place for money, and that’s essentially the blockchain.” With stablecoins pegged to real-world assets like the U.S. dollar, MoonPay aims to make digital transactions as frictionless as a Zoom call.
The Iron Acquisition: MoonPay’s “Braintree Moment”
Soto-Wright didn’t mince words about the deal’s significance, calling it “our Braintree moment.” He drew parallels to PayPal’s 2013 acquisition of Braintree, which processes nearly $600 billion annually in credit card payments for giants like Meta. Iron’s API-driven stablecoin infrastructure positions MoonPay as the go-to provider for enterprise-grade solutions, enabling real-time treasury management, cross-border payouts, and compliance features like AML and KYC. This mirrors the $1.1 billion Stripe-Bridge Network deal in February 2025, the crypto ecosystem’s largest to date, which also targeted enterprise stablecoin adoption with clients like Coinbase and SpaceX.
MoonPay’s move comes hot on the heels of its $175 million acquisition of Helio in January 2025, a Solana-based payment processor. Together, these deals signal an aggressive push to capture the enterprise market as stablecoins gain traction across financial services—from legacy banks to fintech startups.
Why Stablecoins Matter in 2025
Stablecoins, cryptocurrencies tied to stable assets, moved $27 trillion across blockchains in 2024, dwarfing many traditional payment systems. Standard Chartered predicts they could account for 10% of foreign exchange transactions, up from 1% today, thanks to their ability to slash costs and speed up currency swaps. MoonPay’s Iron-powered platform unlocks this potential for businesses, offering instant settlements and borderless transfers without the fees or delays of legacy networks.
Soto-Wright sees stablecoins as an “internet-driven payment method” poised to go global. “In the United States, real-time payments have taken years to roll out,” he noted. “We think wallets can help skip that technology jump, and stablecoins are going to be a very important part of that.” With over 30 million accounts in 180 countries and a $3.4 billion valuation from its 2021 funding round, MoonPay is cash-flow positive and boasts a 112% net revenue surge in 2024—proof it’s ready to lead this charge.
Competing with Stripe and Beyond
The Iron acquisition pits MoonPay against Stripe, whose Bridge Network purchase also targets businesses wary of handling digital tokens directly. Both companies are betting on stablecoins as the future of enterprise payments, but MoonPay’s broader crypto-native footprint—spanning 180 countries—gives it an edge in global reach. Iron’s tech enhances this advantage, offering programmable payments and yield-bearing asset integration (e.g., U.S. Treasury bonds), appealing to enterprises seeking efficiency and revenue opportunities.
What’s Next for MoonPay and Stablecoins?
MoonPay’s back-to-back acquisitions of Helio and Iron signal a clear strategy: dominate the stablecoin payments race. As businesses from banks to merchants adopt stablecoins, the company’s focus on scalability, compliance, and speed could redefine digital finance. With the enterprise market heating up—evidenced by Stripe’s billion-dollar play—2025 promises to be a pivotal year for stablecoin infrastructure. Will MoonPay’s “Braintree moment” spark a broader payments revolution? The $27 trillion stablecoin market says yes. Stay tuned as MoonPay rolls out Iron’s capabilities and reshapes how the world moves money.
