MoonPay acquires Israeli security startup Sodot for ~$100M and launches MoonPay Institutional to serve traditional financial institutions with crypto trading, tokenized securities, and stablecoin services.
DeFi & Yields ·
MoonPay has acquired crypto key manager Sodot in an all-stock deal valued at $100 million. The move coincides with the launch of MoonPay Institutional, a new division led by former CFTC acting chair Caroline Pham. The institutional unit targets banks, asset managers, and trading firms seeking crypto trading, tokenized securities, and stablecoin services.
Sodot, an Israeli-based security startup, brings key management capabilities to MoonPay's platform. The acquisition strengthens MoonPay's ability to serve enterprise clients that require robust custody and signing solutions alongside trading infrastructure. Pham's appointment signals MoonPay's intent to navigate the regulatory landscape as institutional adoption of digital assets expands.
The specific scope of services MoonPay Institutional will offer and the timeline for full integration of Sodot's technology remain to be detailed. How the former CFTC official's regulatory expertise will shape the division's compliance posture and client roster strategy has not yet been outlined in public disclosures.