Modern Treasury has acquired stablecoin startup Beam for around $40 million.

BlockBeats News, October 22: Payment infrastructure company Modern Treasury, valued at $2.1 billion, has acquired stablecoin startup Beam. Sources revealed that the acquisition was an all-stock transaction valued at around $40 million.

As part of the deal, Beam's founders will join Modern Treasury and help lead the company's expansion into the stablecoin payment space. Beam was founded in 2022 and provides software for banks and other enterprises to send and receive stablecoins.