Modern Treasury Acquires Beam Startup for $40 Million
- Modern Treasury acquires Beam for $40 million in an all-stock deal.
- This acquisition marks Modern Treasury’s entry into blockchain-enabled payments.
- Beam’s founder, Dan Mottice, will lead stablecoin adoption strategies at Modern Treasury.
Salesforce-backed Modern Treasury has acquired stablecoin startup Beam for $40 million, a strategic move to integrate blockchain payments into their enterprise finance infrastructure.
The acquisition signifies growing institutional interest in stablecoin technology, aiming to enhance settlement processes and adoption amid increased corporate demand for blockchain-based financial solutions.
Modern Treasury, a firm backed by Salesforce, has made a significant acquisition by acquiring Beam, a stablecoin infrastructure startup, in an all-stock deal valued at $40 million. This strategic move marks Modern Treasury’s entrance into blockchain-enabled payments.
Founded in 2022, Beam specializes in real-time payment infrastructure for banks using stablecoins. The acquisition involves Beam’s founder, Dan Mottice, joining Modern Treasury to lead stablecoin adoption strategies, enhancing their existing offerings. Mottice emphasized,
“This partnership accelerates mainstream adoption of stablecoins across institutional rails and brings trusted programmable money to the heart of corporate finance.”source.
The acquisition is expected to impact fintech and corporate clients by integrating stablecoin rails into existing financial operations. This integration aims to streamline USDG stablecoin flows and programmable dollar settlements.
The financial implications include a potential increase in stablecoin use by institutions. Additionally, the deal is part of ongoing efforts to expand Modern Treasury’s capabilities, supported by Salesforce Ventures and SVB Capital.
This acquisition indicates a growing trend among financial tech firms adopting blockchain technology.
Modern Treasury‘s approach echoes past industry moves, such as Stripe’s acquisition of Bridge, promoting stablecoin-centric solutions. The move could lead to broader adoption of stablecoins in corporate finance, driven by enhanced regulatory clarity and technological advancements. This development aligns with the GENIUS Act, which provides a regulatory framework for dollar-backed stablecoins.
