TLDR
- Modern Treasury has acquired stablecoin startup Beam in an all-stock deal worth $40 million.
- Beam was founded in 2022 and provides plug-and-play stablecoin infrastructure for banks and corporations.
- Beam’s founder Dan Mottice will join Modern Treasury to lead its stablecoin adoption efforts.
- The acquisition aligns with Modern Treasury’s strategy to expand into blockchain-enabled enterprise payments.
- Salesforce Ventures is one of Modern Treasury’s key investors and continues to support its fintech growth.
Modern Treasury has acquired stablecoin infrastructure firm Beam in an all-stock deal valued at $40 million. The acquisition marks a major shift for Modern Treasury as it enters the stablecoin sector. Beam’s founder, Dan Mottice, will join the company to lead its stablecoin expansion strategy.
Beam Acquisition Expands Modern Treasury’s Blockchain Capabilities
Modern Treasury, known for streamlining payment operations, is now adding stablecoin technology to its platform. Beam, founded in 2022, offers a plug-and-play solution for banks and businesses to integrate stablecoins. The startup previously raised $14 million and had a valuation of approximately $44 million.
The move follows an industry-wide trend of integrating stablecoin technology into enterprise payment systems.
“Beam’s technology fits perfectly into our roadmap for faster and more programmable payments,” said a Modern Treasury executive.
The acquisition enhances the company’s treasury infrastructure, especially as interest in blockchain payments continues to grow.
Salesforce-backed Modern Treasury aims to support dollar-pegged tokens more efficiently across its banking partners. Beam recently joined the Global Dollar Network, which includes companies like Paxos and Kraken. This consortium is building the USDG stablecoin to boost stablecoin adoption globally.
Fintech Firms Intensify Stablecoin M&A Amid Regulatory Clarity
Stripe also entered the stablecoin space by acquiring Bridge for $1.1 billion to build its Tempo blockchain. Meanwhile, Coinbase and Mastercard are reportedly bidding to acquire BVNK in a multi-billion-dollar contest. Just this week, Coinbase acquired Echo for $375 million and FalconX took over 21Shares.
The GENIUS Act, signed in July, created new rules for dollar-pegged tokens, increasing corporate interest in stablecoins. Circle’s recent IPO on the NYSE added further momentum to the asset class. Salesforce Ventures, one of Modern Treasury’s key backers, has remained bullish on fintech innovations.
Modern Treasury’s acquisition joins a wave of stablecoin-related mergers gaining pace since early 2024. As competitors scale blockchain solutions, Salesforce-backed firms like Modern Treasury are strategically expanding to keep up. The $40 million Beam deal highlights how Salesforce’s fintech investments are aligning with regulatory clarity.
Salesforce Ventures Continues Strategic Push into Fintech Infrastructure
Modern Treasury has raised at least $183 million to date from investors including SVB Capital and Salesforce Ventures. The company’s last valuation exceeded $2 billion and continues to rise with strategic expansions. Salesforce has supported the firm’s efforts to modernize financial infrastructure since early stages.
The Beam acquisition strengthens Salesforce’s fintech portfolio through its association with Modern Treasury. This move places Salesforce-backed ventures at the center of blockchain-powered treasury innovation. Beam’s tools are expected to accelerate stablecoin use among Salesforce-integrated financial partners.
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Source: https://blockonomi.com/modern-treasury-buys-stablecoin-firm-beam-in-40m-all-stock-deal/