MoonPay, a leading cryptocurrency payment platform, has announced the acquisition of Sodot, a cutting-edge Israeli crypto security company, as it prepares to launch MoonPay Institutional. This new unit is designed to cater to the needs of large financial institutions seeking to enter the crypto market.
According to sources cited by Bloomberg, the all-stock deal is valued at approximately $100 million. The MoonPay Institutional platform will offer a suite of tools, including trading, tokenized securities, payments, 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 the new unit.
Sodot's innovative self-hosted multi-party computation infrastructure is specifically designed for institutions requiring enhanced control over asset movement, transfer approvals, and automated transaction handling. With nearly 30 million customers worldwide and powering the infrastructure of over 500 firms in the decentralized economy, MoonPay has been expanding its reach through strategic acquisitions, including stablecoin platform Iron and crypto checkout firm Helio, as it strengthens its position in enterprise infrastructure.