What to know:
- MoonPay Entendre acquisition brings AI accounting tools to on-chain finance teams.
- Entendre automates journal entries and reduces manual crypto accounting workloads.
- MoonPay aims to link blockchain payments with cleaner financial records and reports.
MoonPay has announced the acquisition of AI-based finance operations solution provider Entendre for on-chain finance businesses. The MoonPay Entendre acquisition is designed to enhance crypto accounting and stablecoin records. It’s focused on back-office automation, as digital asset companies transact more transactions per month.
According to MoonPay, the agreement will introduce new automation into work performed in the finance area once transactions have been completed.
The company said crypto and stablecoin businesses need cleaner records across wallets, accounts, and legal entities, without forcing staff to piece together data after each payment.
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MoonPay Entendre Acquisition Adds Accounting Layer
As part of the MoonPay Entendre acquisition, that accounting layer will be integrated into MoonPay’s comprehensive digital payments ecosystem.
Entendre enables businesses to monitor, categorize, and structure blockchain transactions across various financial systems. It has been used by Polygon Labs, Thirdweb, Brale, Babylon Labs, Ostium, Courtyard, and DoubleZero.
These companies manage stablecoins and on-chain transactions, which can be a hassle to manually audit on various wallets, platforms, and internal accounts.
An Entendre customer, according to MoonPay, has an average of 30 financial accounts. They also handle some 25,000 transactions per month across a variety of business entities, often with multiple legal entities.
With the acquisition of Entendre, MoonPay will gain access to software that is widely utilized by businesses with extensive accounting requirements.
Stablecoin Records Get AI Accounting Support
According to the MoonPay shares figures, Entendre automates approximately 93% of journal entries. It also decreases manual accounting work by over 50% and decreases stress during monthly reporting cycles.
The company said finance teams can close their books up to three times faster than with normal systems.
It is not just volume of transactions. MoonPay said blockchains can show that money moved, but they do not explain why it moved. The MoonPay Entendre acquisition concentrates on this lack of link between blockchain records and accounting significance.
Stablecoin payments can go through wallets, exchanges, bridges, gas fees, invoices, and card systems. They can impact accounting records in various ways.
Finance teams might have to manually review payment history using block explorers, spreadsheets, and accounting software when routine payments are made without automation.
Entendre converts the raw data of blockchain activity into meaningful financial data for business teams. It categorizes transactions, maps them to the appropriate accounts, generates journal entries, and alerts them to discrepancies.
MoonPay Pushes Further Into Agentic Finance
The MoonPay Entendre acquisition aims to speed up that process for companies that are transacting money on-chain.
MoonPay CEO Ivan Soto-Wright said legacy software was built for manual workflows. He said the next financial system will be coordinated by humans and agents.
His remarks connected the agreement with MoonPay’s sentiment that stablecoin finance should move towards more automated activities for full-scale business utilization.
The acquisition also coincides with MoonPay’s foray into AI-driven blockchain solutions. The company recently launched the MoonAgents Desktop App, which uses text commands for blockchain actions such as trading, wallet funding, and transaction tracking.
The agentic finance push extends to the integration of finance operations software with the acquisition of MoonPay’s Entendre.
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