Payment company Modern Treasury acquires stablecoin startup Beam for $40 million
Foresight News reported, according to Fortune, that payment infrastructure company Modern Treasury, valued at $2.1 billions, has acquired stablecoin startup Beam. Sources revealed that the acquisition is an all-stock deal worth approximately $40 millions. As part of the transaction, Beam’s founders will join Modern Treasury and help lead the company’s expansion into the stablecoin payments sector. Founded in 2022, Beam provides software for banks and other enterprises to send and receive stablecoins (cryptocurrencies pegged to underlying assets such as the US dollar).
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
All three major U.S. stock indexes fall, NetEase drops over 4%
The Dow Jones Index closed down 334.33 points, with the S&P 500 and Nasdaq also declining.
All three major U.S. stock indexes closed lower.
Polymarket to provide clearing services for DraftKings prediction market
