Modern Treasury acquired the stablecoin startup Beam for approximately $40 million.

On October 22, payment infrastructure company Modern Treasury, valued at $2.1 billion, has acquired stablecoin startup Beam. Sources revealed 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 and help lead the company's expansion into the stablecoin payment sector. Beam was founded in 2022 and provides software for banks and other businesses to send and receive stablecoins.

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