Crypto payments company MoonPay looks to compete with Stripe with Iron stablecoin acquisition
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.
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.”
Costco members looking for a break on car prices can tap into a new Volvo deal this fall. Members can tap into limited-time manufacturer incentives through the Costco Auto Program, a year-round auto-buying service that secures prearranged low pricing. The latest: a Certified by Volvo Limited-Time Special launched this week.
Certified by Volvo vehicles are pre-owned Volvos that must pass a rigorous test with 170+ points, have less than 80,000 miles, and receive a detailed CARFAX Vehicle History Report. They come with roadside assistance, and EVs and plug-in hybrids also include an 8-year/100,000-mile battery warranty.
Until October 31, 2025, eligible Costco members can score an exclusive bonus when buying select Certified by Volvo vehicles from model years 2022 through 2025.5. Gold Star and Business Members get $1,000 off, and Executive Members get $1,250 off. The offer applies to hybrids, plug-in hybrids, and BEVs. What makes this deal sweet is that the Costco perk stacks with any other manufacturer incentives you qualify for.
Among the vehicles on the eligible list: The Volvo EX30, the EX90, the XC90*, the most requested premium midsize SUV among Costco members last year, and the Volvo C40 EV, which also topped requests in the premium electric compact SUV category.
To cash in on the offer, Costco members must register online for a certificate, then bring it to a Volvo dealership where they present it at the time of purchase. Full details are on the Certified by Volvo Limited-Time Special page.
*CarsDirect links are trusted affiliate links
The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
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The GV90 is set to arrive as the most luxurious Genesis vehicle to date. With its debut approaching, Genesis is showcasing the ultra-luxe SUV at its new flagship brand space.
Genesis opens new brand space based on the GV90
Although it’s not yet in production form, Genesis is still showcasing its stunning new full-size electric SUV. The Neolun concept, unveiled last March at the New York Auto Show, will soon arrive as the brand’s new flagship model.
When Genesis launches the GV90, expected in mid-2026, it will become the brand’s largest and most luxurious electric vehicle yet.
According to Genesis, the GV90 is “an ultra-luxe, state-of-the-art SUV” that will take the luxury brand to the next level. We’ve seen camouflaged prototypes out testing a few times, revealing advanced new features and luxury design elements, such as coach doors, adaptive air suspension, and more.
The GV90, or Neolun concept (for now, at least), is the centerpiece of the company’s new “Night in Motion” space, which Genesis opened on Thursday.
Based on the Neolun concept, the new exhibition is “the starting point of the Genesis brand’s spatial philosophy.” It’s designed to showcase the brand’s latest design and the beauty of Korean aesthetics.
Genesis is expected to launch the GV90 in mid-2026, but we could see an official debut before the end of the year.
We will learn prices, range, and other specs soon, but the GV90 is expected to debut on Hyundai’s new eM platform. Hyundai claimed the new platform will “provide 50% improvement in driving range” compared to current EVs. It will also offer advanced Level 3 autonomous driving features.
One thing is sure: The Genesis GV90 won’t be cheap. As its largest and most luxurious SUV, the GV90 is expected to start at around $100,000. Higher trim levels could reach upwards of $120,000 or more.
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Ampion Renewable Energy has introduced a new way to expand community solar access – one that breaks barriers by crossing state lines.
The company just launched Synthetic Community Solar, a tool that lets developers extend the financial benefits of solar projects to subscribers in other states. That’s a big shift from the usual model, where subscribers need to live in the same utility territory as the solar farm. This new approach also helps low-income households save more on energy bills while giving developers a faster route to federal tax incentives.
Here’s how it works: When a solar farm is built in one state, Ampion works with utilities to transfer the financial benefits through solar credits to income-qualified households in another state. For example, a 2.5 MW project in Maine already provides Illinois subscribers with up to 20% savings on their electricity bills.
For developers, the timing is critical. The Inflation Reduction Act gives bonus tax credits, known as Category 4 Investment Tax Credits (ITCs), to projects that deliver at least half of the financial benefits to low-income households. Synthetic Community Solar makes it easier to meet those requirements, which in turn improves project economics and long-term site viability.
This model is especially useful when a project is in an area where recruiting low-income subscribers is expensive or challenging. Instead of letting credits go unused, developers can cross state lines, making the project more financially sustainable while supporting households that need savings the most.
Ampion’s CEO and founder, Nate Owen, said the goal is to solve a geographic barrier that has historically limited community solar growth. By bridging programs across different states, the initiative supports the company’s aim to make renewable energy accessible “everywhere, for everyone.”
With the IRA’s major incentives set to expire, solutions like Synthetic Community Solar could help keep projects viable while spreading the financial benefits of clean energy further.
Read more: Nexamp found a faster way to build solar – it did the utility’s job, too
The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
FTC: We use income earning auto affiliate links. More.
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