MoonPay, a leading cryptocurrency payment firm, has announced the acquisition of Sodot, a cutting-edge Israeli crypto security company, as it prepares to launch its new institutional division. According to sources cited by Bloomberg, the deal is valued at approximately $100 million and is an all-stock transaction.
The new institutional unit will provide a comprehensive suite of tools and services, 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 in December as chief legal officer and chief administrative officer after serving as acting chair of the Commodity Futures Trading Commission, will lead the new division. Sodot's innovative self-hosted multi-party computation infrastructure is designed to cater to the specific needs of institutions, offering enhanced control over asset movement, transfer approvals, and automated transaction handling.
This strategic acquisition marks a significant expansion of MoonPay's services, building on its existing capabilities in crypto payments and stablecoin issuance, and further solidifying its position as a major player in the decentralized economy, with nearly 30 million customers worldwide and infrastructure support for over 500 firms.