MoonPay co-founder and CEO Ivan Soto-Wright at the Bitcoin 2022 conference in Miami.
MoonPay
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.
Already, MoonPay makes it easier for people to participate in the new crypto economy by enabling onboarding through most traditional payment rails, including debit cards, bank accounts, PayPal, Venmo, Apple Pay, and Google Pay.
Now, with Iron, MoonPay can offer businesses the ability to accept stablecoin payments, unlocking instant, low-cost, and borderless transactions.
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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.”
Stablecoins are cryptocurrencies pegged to real-world assets, and in 2024 alone, most of the $27 trillion transferred through stablecoins consisted of digital dollars moving seamlessly across blockchains.
Soto-Wright likened the deal’s potential impact to the transformation seen in telecommunications.
“It was really expensive to place a long distance phone call, and then you had Skype, then you had Zoom, you had all this internet-based technology for doing communication — same thing will take place for money, and that’s essentially the blockchain,” he said.
This marks MoonPay’s second major acquisition this year, following its $175 million purchase of Helio in January.
Businesses across the financial services landscape, from legacy banks to startup payment providers, are adopting stablecoins or exploring launching their own. Stablecoins make it easier and cheaper to switch between currencies and to move money digitally. Standard Chartered predicted in a recent report that stablecoins could grow to become about 10% of foreign exchange transactions, up from 1% today.
MoonPay’s purchase comes one month after Stripe closed its $1.1 billion deal to buy a different payment infrastructure company called Bridge Network, the largest deal both for Stripe and the crypto ecosystem more broadly.
Bridge makes it easier for businesses to accept stablecoin payments without having to directly deal in digital tokens. Customers include Coinbase and SpaceX.
MoonPay, which has more than 30 million accounts in 180 countries, was last valued at $3.4 billion when it raised its last round of funding in 2021. The company tells CNBC it is cash-flow positive and profitable and that net revenue increased by 112% in 2024 from a year earlier.
“We think it is an internet-driven payment method you’ll see all across the world,” Soto-Wright said.” “If you think about the United States, we have been a little bit behind. Real-time payments has taken years to get rolled out. We actually think wallets can help skip that technology jump and stablecoins are going to be a very important part of that.”
The electric Tacoma and 4Runner may not be a pipe dream after all. Toyota is hinting that EV versions of the popular pickup and SUV could be coming to the US.
Is Toyota launching Tacoma and 4Runner EVs?
Toyota took the spotlight this week in Brussels, unveiling three new electric SUVs set to arrive in Europe by the end of the year.
Although the event was heavily focused on its European lineup, we are learning a little more about what to expect in the US.
For one, Toyota unveiled the new bZ4X. In its first major refresh since launching in 2022, the electric SUV now has more range, faster charging, dedicated EV features, and a new look inside and out.
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Although US specs were not revealed, the new Toyota bZ4X has a bigger 73.1 kWh battery, providing up to 573 km (356 miles) WLTP driving range. On the EPA rating system, it’s expected to see around 270 to 280 miles range, up from 252 miles in the 2025 bZ4X.
Toyota’s new bZ4X AWD model (Source: Toyota)
During the event, Toyota’s chief branding officer, Simon Humphries, stressed the company’s focus on creating “ever-better” cars specifically tailored to buyers in the region.
In Europe, Toyota is launching the new bZ4X, C-HR+, and Land Cruiser electric SUVs. In China, Toyota offers the bZ4X, bZ3C, and recently introduced bZ3X, all dedicated EVs.
From left to right: Toyota’s new C-HR+, bZ4X, and Urban Cruiser electric SUVs (Source: Toyota Europe)
Toyota only offers the bZ4X in the US outside its luxury Lexus brand, which sells the RZ. That is about to change soon.
The Japanese auto giant invested over $2 billion to build its first three-row electric SUV at its Kentucky manufacturing plant. The larger SUV will go into production in the first half of 2026.
Humphries hinted at a few new EVs we could see from Toyota over the next few years, saying there’s “unbridled opportunities for recreation in America, with the Tacoma and 4Runner.”
Toyota teases new electric pickup, SUV, and crossover alongside the new bZ4X, C-HR+, and Land Cruiser launching in Europe by 2026 (Source: Toyota)
Toyota teased a new electric pickup and SUV that will launch in Europe next year as it expands its EV lineup. With the company reportedly dropping the “bZ” naming system, an electric Toyota Tacoma and 4Runner look more and more likely.
Last year, the Tacoma was Toyota’s top-selling pickup in the US, with over 192,000 units sold. The 4Runner was its third best-selling SUV (92,100), behind the RAV4 (475,200) and Corolla Cross (93,000). Fully electric versions could finally help charge up Toyota’s EV sales in the US.
How do you feel about an electric Tacoma pickup or 4Runner SUV? Would you buy one?
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Elon Musk is reportedly giving Trump another $100 million just after the President did an ad for Tesla at the White House.
During the last election cycle, Musk contributed more than $250 million to Trump’s campaign through donations to political action committees (PACs).
Trump has won, but he still needs money.
While he can’t seek reelection, the mid-term and Congress/Senate elections are coming. The GOP is looking to increase its control over the House and Senate. Furthermore, Trump doesn’t have the full support of the GOP, and Musk has made clear that he plans to invest money in the primaries against any GOP members who don’t support Trump.
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Now, Axios and NYT report that Musk told the White House that he plans to contribute another $100 million in political donations to Trump and his PACs.
It raises concerns about the ad being a quid pro quo between Musk and Trump.
The publicity stunt also happened after Tesla’s stock crashed 15% the day before and 50% since its peak achieved in December.
Tesla’s stock price is important for Musk. It is his main source of wealth, and he often uses loans against the stock to finance his lifestyle and sometimes invest in other companies.
Tesla’s US sales amid protests against the company over Elon’s political involvement are likely badly affected, and this is his solution: to intertwin Tesla’s brand even further with the most controversial US President in modern history.
It’s so dumb. I am sure that Trump can help encourage a few people buy Tesla vehicles, but long term, this will hurt the brand even more.
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Yangwang is gearing up to officially launch its long-teased U7 sedan—a third flagship model for BYD’s high-end performance sub-brand. When it hits the market in China later this month, the U7 promises competitive luxury and “groundbreaking technology.”
Yangwang, which directly translates to “looking up” or “admire” is a young luxury brand under the BYD umbrella introduced in 2023. The marque turned some heads out of the gate at that year’s Shanghai Auto Show, where it unveiled the U8 SUV, which can go amphibious in emergencies and crabwalk.
At that same event, the automaker showcased its new intelligent body control system, DiSus, and the unique usage of BYD’s proprietary individual wheel drive (IWD) technology platform, “e4.” Yangwang has followed up with a 1,200 horsepower electric supercar called the U9, which has hit the markets in China alongside the U8.
In early 2024, Yangwang unveiled its first sedan, the U7, to complete an initial trio of flagship models. Since then, we have covered several updates, including what appeared to be leaked performance specs detailing over 1,300 horsepower and over 500 miles of range.
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The U7 hit showrooms in China last summer followed by a start of pre-orders in November, although pricing was not available at the time. We have since learned that the Yangwang U7 will start at a price of RMB 1 million ($138,000) and will come in BEV and PHEV variants.
Today, we learned when and where we will learn all the confirmed specs and pricing in regard to the Yangwang U7 – which will be on March 27 in Shenzen, home to BYD’s headquarters.
Source: Yangwang/Weibo
Yangwang U7 can remain stable if rear-ended at 100 km/h
Yangwang shared the launch event image seen above on its Weibo page today, detailing that the public will learn all there is to know about the sedan on March 27 at 7:30 PM Beijing time (7:30 AM EDT). Per its post, Yangwang is promising the U7 will hit the market with “groundbreaking technologies,” some of which it showcased in separate posts on the Chinese social media platform.
For example, Yangwang shared its new DiSus-Z technology, based on the DiSus body control system mentioned above. This will be the most high-end and best-performing version of the system, joining an intelligent vibration-damping body control system called DiSus-C, an intelligent air body control system called DiSus-A, and an intelligent hydraulic body control system called DiSus-P.
According to the post, DiSus-Z has completed research, development, and testing and is set to debut on the new sedan. Yangwang also teased some safety capabilities of the new U7, sharing that the sedan can get rear-ended while driving 100 km/h (62 mph) and remain in control without spinning out. Check out the brand’s Weibo for a video demonstration. Additionally, the U7 can still drive steadily after blowing out two tires on the same side while driving 160 km/h (99 mph).
According to previous statements by Yangwang, the BEV version of the U7 will feature a 135.5 kWh battery pack powered by BYD Blade batteries exclusive to the sedan, capable of delivering 720 km (447 miles) of CLTC range. Those performance specs and several other details should be confirmed on March 27 in Shenzen. We will provide a full recap once we learn more.
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