Crypto payments company MoonPay has expanded its capabilities by acquiring Entendre, a provider of artificial intelligence (AI) accounting agents tailored for stablecoin firms. This acquisition is poised to enhance MoonPay’s infrastructure, particularly focusing on the financial operations layer. According to a recent news release, the integration of AI agents aims to streamline the reconciliation, treasury, and closing workflows associated with transactions.
Ivan Soto-Wright, CEO and co-founder of MoonPay, noted that the existing legacy software primarily supports manual workflows, whereas the future financial ecosystem will be a combination of human expertise and AI-driven agents. He emphasized the need for businesses adopting stablecoins to have finance operations that match the speed and automation of transactions themselves. The acquisition of Entendre allows MoonPay to delve deeper into this “agentic finance layer,” enabling businesses to thrive in the evolving financial landscape.
Entendre’s technology automates the comprehensive finance operations workflow for various high-volume businesses, which include notable names like Polygon Labs, Thirdweb, and Babylon Labs. Its services facilitate the deployment of agents that automate essential accounting tasks.
Furthermore, the release highlighted the transformative potential of stablecoins for businesses, allowing them to operate globally right from the start. A single product could manage customer payments in multiple countries and currencies, demystifying complex financial processes. Historically, finance teams have struggled with disjointed systems and cumbersome manual reconciliations; however, Entendre aims to address these challenges through its self-improving AI agents.
The acquisition adds to MoonPay’s strategic growth, following its purchase of the payment firm Meso last year, which also included hiring Meso’s co-founders, Ali Aghareza and Ben Mills.
This deal aligns with a broader trend of CFOs beginning to embrace stablecoins, but with notable reservations. Recent research from PYMNTS Intelligence reveals that 23% of CFOs expect stablecoins to gain significance in the next three years, with 15% believing they will become very or extremely important. In stark contrast, only 10% anticipate that cryptocurrencies will hold similar importance.
A key factor in increasing the acceptance of stablecoins among CFOs is integration with established banking providers, which 45% of surveyed executives identified as a critical element for making stablecoins a fundamental part of payment structures.
Concerns remain, including regulatory and compliance uncertainties affecting 67% of firms when it comes to stablecoins, and 77% with cryptocurrencies. Additionally, integration challenges with current financial systems were voiced by 43% regarding stablecoins and 40% for cryptocurrencies, underscoring the cautious approach still prevalent among finance leaders in the digital asset space.
