MoonPay, a leading crypto payment company, has acquired Sodot, a prominent Israeli crypto security firm, as it prepares to launch MoonPay Institutional. This new division is designed to cater to large financial institutions seeking to enter the crypto market. According to sources cited by Bloomberg, the acquisition is valued at approximately $100 million in an all-stock deal.
The MoonPay Institutional unit will provide a range 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 this new division. Sodot's self-hosted multi-party computation infrastructure is tailored for institutions requiring greater control over asset movement, transfer approvals, and automated transaction handling. With nearly 30 million customers worldwide and infrastructure support for 500 firms in the decentralized economy, MoonPay has been expanding its enterprise infrastructure through strategic acquisitions, including stablecoin platform Iron and crypto checkout firm Helio.