TL;DR:
- Modern Treasury buys Beam for $40 million in an all-stock deal, enhancing stablecoin-based payments.
- Fintechs including Stripe, Coinbase, and Mastercard are actively acquiring stablecoin talent and infrastructure.
- The GENIUS Act and Circle’s successful USDC IPO accelerate institutional adoption of stablecoins.
Modern Treasury, backed by Salesforce, has made a strategic move by acquiring Beam, a stablecoin infrastructure startup, for $40 million in an all-stock transaction. This acquisition significantly expands Modern Treasury’s offerings, traditionally focused on simplifying payment rails like ACH since its founding in 2018. The deal positions the company to compete more directly with industry giants such as Stripe and Coinbase in instant, programmable dollar payments.
Founded in 2022, Beam develops plug-and-play solutions for banks and corporations to adopt stablecoins. With $14 million raised and a prior valuation of around $44 million, the startup is a valuable addition to Modern Treasury’s toolkit. Its technology enables secure and efficient stablecoin integration, providing corporate clients with faster and more flexible payment solutions.
Expanding Fintech’s Stablecoin Frontier
The acquisition reflects a growing trend of fintechs absorbing stablecoin talent and tools. Stripe, for instance, acquired Bridge for $1.1 billion in late 2024 and is now developing Tempo, a Layer 1 blockchain focused on stablecoins. Meanwhile, Coinbase and Mastercard are reportedly in a multi-billion-dollar bidding race for stablecoin firm BVNK. This surge of activity highlights the strategic importance of stablecoins in the fintech ecosystem.
Regulatory developments and market momentum further support stablecoin adoption. The U.S. GENIUS Act, signed into law in July, establishes clear rules for dollar-pegged tokens, while Circle’s USDC IPO on the NYSE has fueled excitement around the asset class. Additionally, Beam joined the Global Dollar Network consortium, which includes Paxos, Robinhood, and Kraken, promoting the adoption of USDG stablecoins across institutional and corporate platforms.
Beam founder Dan Mottice will join Modern Treasury to lead stablecoin adoption, strengthening the integration of the acquired technology. Modern Treasury has raised at least $183 million in total, with notable investors including SVB Capital and Salesforce Ventures, and was last valued at over $2 billion. The acquisition reinforces Modern Treasury’s role as a leading player in digital payment innovation and corporate finance.
