Cryptocurrency app MoonPay, has acquired Iron, an API-focused stablecoin infrastructure platform, the company said in a press release Thursday.
The acquisition will significantly increase Moonpay’s enterprise offerings, the Miami-based company said, and will allow businesses to accept stablecoin payments.
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No acquisition price was given, but a report said the deal was worth at least $100 million.
M&A activity in the crypto space is hotting up. Options exchange Derebit is in talks to be acquired, with a number of potential suitors vying for the company, as reported by CoinDesk last month. Crypto trading platform BitMEX is also looking for a buyer.
Stripe agreed to buy stablecoin platform Bridge for $1.1 billion in October last year, in the largest crypto acquisition by a major payments company to date.
“This acquisition is a strategic step forward, positioning MoonPay at the forefront of enterprise-grade stablecoin solutions,” said Ivan Soto-Wright, CEO of MoonPay, in the release.
Moonpay bought Helio, a Solana-powered crypto payment processor, in January.
Read more: MoonPay Buys Crypto Payment Processor Helio for $175M