Modern Treasury Acquires Beam in $40 Million All-Stock Deal
According to Modern Treasury, the Beam acquisition strengthens its blockchain-based stablecoin payment solutions, aiming to boost transaction speed and cut global payment costs.
BEAM
Summary
Modern Treasury, valued at $2.1 billion, announced an official $40 million all-stock acquisition of stablecoin payment startup Beam. Founded in 2022, Beam offers blockchain-based payment solutions allowing banks and enterprises to transact using stablecoins pegged to fiat currencies. The deal, confirmed by Modern Treasury, will integrate Beam's technology to improve transaction speed and reduce costs globally. Beam’s founders will join Modern Treasury’s leadership team to advance the company's stablecoin payment services.
Terms & Concepts
- Stablecoin: A cryptocurrency pegged to a stable asset, such as the US dollar, to minimize price volatility.
- All-Stock Transaction: A type of acquisition where the purchase price is paid entirely with shares of the acquiring company.
- Blockchain Payment Solutions: Digital transaction systems using blockchain technology to enable secure, fast, and cost-efficient payments.