MoonPay acquires Israeli crypto security firm Sodot in $100 million stock deal

The acquisition gives MoonPay the security infrastructure for a new institutional business led by former CFTC Acting Chair Caroline Pham.

What to know:

• MoonPay acquired Israeli crypto security startup Sodot for about $100M to launch its new MoonPay Institutional unit.
• The institutional unit will serve banks and asset managers, leveraging Sodot's key management tools and MPC infrastructure.
• MoonPay Institutional will be led by former acting CFTC chair Caroline Pham, in a push toward regulated financial companies.

Crypto payments firm MoonPay has acquired Sodot, an Israeli crypto security startup, as part of its plan to launch MoonPay Institutional, a new unit built for large financial institutions looking to access crypto.

Bloomberg reports, citing sources familiar with the acquisition, that it's an all-stock deal worth about $100 million.

The new unit will offer tools for trading, tokenized securities, payments, wallet management and stablecoin issuance. Sodot's technology will serve as the key management layer for the business.

MoonPay Institutional will be led by 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 last year.

Sodot's self-hosted multi-party computation (MPC) infrastructure is built for institutions that need tighter control over how assets move, who can approve transfers and how automated systems handle transactions.

MoonPay is best known for letting users buy and sell crypto through cards, bank transfers and other payment methods, though the past year has seen it acquire stablecoin platform Iron and crypto checkout firm Helio as part of a deeper push into enterprise infrastructure.

MoonPay has nearly 30 million customers worldwide and powers the infrastructure of 500 firms across the decentralized economy.

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• Industry backstop of $300 million helped stabilize deposits and yields.
• The bank maintained its $2 trillion tokenized RWA forecast by 2028.

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