MoonPay, a leading cryptocurrency payment platform, has acquired Sodot, a prominent Israeli crypto security firm, to support the launch of its new institutional business unit. According to sources cited by Bloomberg, the acquisition is valued at approximately $100 million in an all-stock deal. The new division, MoonPay Institutional, aims to cater to large financial institutions seeking to engage with cryptocurrency. It will provide a suite of tools, including trading, tokenized securities, payment solutions, wallet management, and stablecoin issuance, with Sodot's technology serving as the foundational key management layer.
Caroline D. Pham, who joined MoonPay as Chief Legal Officer and Chief Administrative Officer after serving as Acting Chair of the Commodity Futures Trading Commission, will lead the new unit. Sodot's self-hosted multi-party computation infrastructure is designed to provide institutions with enhanced control over asset movement, transfer approvals, and automated transaction handling. This acquisition marks a significant expansion of MoonPay's capabilities, building on its existing user base of nearly 30 million customers worldwide and its infrastructure support for over 500 firms in the decentralized economy.