Modern Treasury Acquires Stablecoin Startup Beam in $40 Million Stock Deal

According to PANews, payment infrastructure company Modern Treasury, valued at $2.1 billion, has acquired stablecoin startup Beam. Sources indicate that the acquisition is an all-stock transaction valued at approximately $40 million. As part of the deal, Beam's founders will join Modern Treasury to assist in expanding the company's operations into the stablecoin payment sector.Beam, established in 2022, provides software for banks and other enterprises to send and receive stablecoins. Modern Treasury, which joined the Y Combinator incubator in the summer of 2018, positions itself as a one-stop service provider for businesses managing cash flows.