MoonPay, a leading cryptocurrency payment company, has acquired Sodot, a prominent Israeli crypto security firm, as part of its strategy to introduce MoonPay Institutional. This new division is designed to cater to the needs of large financial institutions seeking to access cryptocurrency markets.
According to sources cited by Bloomberg, the acquisition is valued at approximately $100 million and is an all-stock deal. The new unit will provide a range of tools and services, including trading, tokenized securities, payment solutions, wallet management, and stablecoin issuance, with Sodot's technology serving as the core 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 MoonPay Institutional. Sodot's self-hosted multi-party computation infrastructure is specifically designed for institutions requiring enhanced control over asset transfers, approvals, and automated transaction processing.
Known for enabling users to buy and sell cryptocurrencies through various payment methods, MoonPay has expanded its reach into enterprise infrastructure over the past year, acquiring stablecoin platform Iron and crypto checkout firm Helio. With nearly 30 million customers worldwide and powering the infrastructure of 500 firms across the decentralized economy, MoonPay continues to strengthen its position in the market.