Modern Treasury will acquire Beam, a startup specializing in stablecoin-based payment infrastructure, in an all-stock transaction valued at $40 million.
The deal marks Modern Treasury’s first major move into blockchain-enabled finance and reflects growing institutional interest in programmable money and digital dollar rails.
Fortune first reported the news.
Founded in 2018, Modern Treasury offers payment operations software used by companies such as Stripe and Gusto to automate bank transfers and reconciliation. Beam, launched in 2022, builds systems for real-time transactions using stablecoins — cryptocurrencies pegged to fiat currency—to reduce settlement time and costs.
According to Fortune, Beam’s technology will be integrated into Modern Treasury’s existing payments APIs to enable instant value transfer across traditional and crypto rails.
By combining Beam’s stablecoin expertise with its own treasury infrastructure, Modern Treasury aims to compete in the fast-growing market for blockchain-enabled enterprise payments.The deal comes as M&A activity picks up throughout crypto. Stripe notably bought Bridge earlier this year in a billion-dollar deal. Coinbase, just yesterday, made a $375 million acquisition of Cobie’s Echo. And, earlier on Tuesday, FalconX announced that it’s acquiring 21Shares.
This is a developing story.
This article was generated with the assistance of AI and reviewed by editor Michael McSweeney before publication.
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Source: https://blockworks.co/news/modern-treasury-acquires-beam
