Modern Treasury Acquires Beam for $40 Million, Expanding into Stablecoin Payments

Payments infrastructure giant Modern Treasury has acquired Beam, a stablecoin payments provider, in an all-stock transaction valued at approximately $40 million. The move, announced by Dimitri Dadiomov, co-founder and President of Modern Treasury, signals the company's strategic entry into the rapidly evolving stablecoin market. "Modern Treasury is acquiring @beam_cash, a stablecoin payments provider, and entering stablecoins," Dadiomov stated in a social media post, confirming the integration of digital currency capabilities into its existing platform.Modern Treasury, a company valued at $2.1 billion, has historically focused on simplifying money movement across traditional financial systems like wires and ACH since its founding in 2018. Beam, established in 2022, specializes in providing software that enables banks and corporations to send and receive stablecoins. Beam had previously raised $14 million and was last valued at $44 million, according to data from Pitchbook.The acquisition's core objective is to create a unified API that supports real-time payments across both fiat and stablecoin networks. This comprehensive platform will facilitate payments via stablecoins, Push-to-Card, RTP, FedNow, ACH, and wires. Modern Treasury plans to streamline compliance by handling Know Your Customer (KYC), Know Your Business (KYB), and Anti-Money Laundering (AML) across all rails, significantly reducing onboarding time for companies.Beam founder Dan Mottice, who previously led Visa’s crypto settlement products, will join Modern Treasury as Head of Beam, overseeing the stablecoin expansion. This strategic integration reflects a growing trend in the fintech sector, with companies like Stripe also making significant stablecoin-related acquisitions. The increasing regulatory clarity, partly driven by the U.S. GENIUS Act and Circle's recent IPO, has further fueled mainstream interest in dollar-backed cryptocurrencies.Matt Marcus, co-founder and CEO of Modern Treasury, highlighted the synergy, noting, “We were coming with the fiat DNA, and they [Beam] had the stablecoin DNA.” The combined entity aims to offer faster, more flexible, and lower-cost global payment solutions, addressing the demand for modern treasury and payment operations that can navigate both traditional and digital financial landscapes.