Modern Treasury has announced it is acquiring Beam, a platform for making stablecoin payments over traditional rails.
The payment infrastructure and treasury management provider has revealed it is extending its team and acquiring Beam to enable stablecoin payments for their growing clientbase.
This will allow their operations to accept stablecoin payins and payouts, as well as provide a suite of products from a single API, including FedNow, ACH and Wire Transfers.
Reacting to the announcement, Founder and CEO Dan Mottice expressed:
Beam’s stablecoin and fiat orchestration capabilities will be woven directly into Modern Treasury’s platform to unlock instant pay-ins and payouts, FX efficiency, and next-generation liquidity management, all within a trusted enterprise-grade system.
Already supporting operations across lending, payroll, title and escrow, as well as SaaS and account integrations between large banks such as Bank of America, J.P. Morgan and others, Modern Treasury is acknowledging the premise of stablecoins and more notably, the slower technologies of previous decades that require modernising.
To this, it will also utilise Beam’s knowledge of integrating Visa Direct and other TradFi services such as the Clearing House’s RTP network with stablecoin transfers, having already performed such services for clients like Sling Money, Fipto and Shield, handling in total over $350M in stablecoin transactions since its inception in 2022.
The acquisition price has been disclosed at $40M in stocks per Fortune. Stablecoin companies have been the targeted by fintechs ever since Stripe’s original purchase of Bridge for $1B in 2024.
Beam had secured a $7M raise led by Castle Island Ventures only in May of this year, showing how much the pace has changed for the sector since the Genius Act passed.
