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MIAMI BEACH, FLORIDA - FEBRUARY 20: Ivan Soto-Wright, CEO & Co-Founder, MoonPay, speaks during the ... More second day of the FII PRIORITY Summit held at the Faena Hotel on February 20, 2025 in Miami Beach, Florida. The summit brings together global leaders with a special focus on the Global South to develop strategies to address pressing international issues in areas including healthcare, education, sustainability and AI. (Photo by Joe Raedle/Getty Images)
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The stablecoin industry is witnessing a wave of strategic acquisitions as companies position themselves for dominance in the rapidly expanding digital payments landscape. MoonPay's recent acquisition of Iron, an API-driven stablecoin infrastructure startup, marks yet another significant consolidation in this space, revealing a race to build comprehensive stablecoin payment networks that could rival traditional financial rails.
MoonPay Expands Its Stablecoin Capabilities with Strategic Acquisitions
MoonPay's Iron acquisition represents its second major purchase in just two months, following the $175 million acquisition of Helio in January. This aggressive expansion strategy closely mirrors competitor Stripe's record-breaking $1.1 billion acquisition of Bridge Network, which was the largest deal in crypto history.
"This is our Braintree moment," MoonPay CEO Ivan Soto-Wright told CNBC, referring to PayPal's historic acquisition of the payments processor that now handles nearly $600 billion in annual payment volume for giants like Meta. The comparison is telling: MoonPay sees stablecoin infrastructure as similarly transformative to how Braintree reshaped online payments.
MoonPay, valued at $3.4 billion in its last funding round, isn't making these purchases from a position of weakness. The company reported 112% year-over-year net revenue growth in 2024 and is already profitable and cash-flow positive, demonstrating the financial viability of stablecoin-powered business models.
The $27 Trillion Stablecoin Transfer Market Driving Enterprise Interest
What’s driving this acquisition frenzy? According to the CNBC report on the MoonPay-Iron deal, stablecoins facilitated an estimated $27 trillion in transfers during 2024 alone. The recent Dune Artemis report provides additional context, showing that stablecoin monthly transfer volume more than doubled year-over-year, reaching $4.1 trillion in February 2025.
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