Overview
- Modern Treasury and Beam announced the acquisition, which a source described as an all-stock transaction worth about $40 million.
- Beam founder Dan Mottice will join Modern Treasury to help lead its expansion into stablecoin payments.
- Founded in 2022, Beam builds software that enables banks and corporations to send and receive dollar-linked stablecoins.
- CEO Matt Marcus characterized the tie-up as combining Modern Treasury’s “fiat DNA” with Beam’s “stablecoin DNA” to bridge payment rails.
- The move follows growing fintech interest in stablecoins after Stripe’s Bridge deal, new U.S. rules, and Circle’s IPO.