Cryptocurrency payments company MoonPay is expanding its presence in the enterprise stablecoin market with the acquisition of Iron, an API-focused stablecoin infrastructure developer, for an undisclosed amount.

This move is expected to expand MoonPay’s business offerings, enabling companies to manage multi-currency treasuries.

The acquisition will significantly increase Moonpay's enterprise offerings, the Miami-based company said, and will allow businesses to accept stablecoin payments. No acquisition price was given, but a report said the deal was worth at least $100 million.