MoonPay to buy North Capital in $60 million stock deal
RWA & Tokenization ·
MoonPay is acquiring private-markets platform North Capital in an all-stock transaction, pushing further into tokenized real-world assets.
The deal, valued at more than $60 million, would make North Capital a wholly owned subsidiary of MoonPay once it closes, pending regulatory sign-off, according to wublockchain.xyz. North Capital brings with it roughly $9 billion in primary and secondary market transaction volume processed to date, a figure that underscores the scale of activity already running through its systems before any integration with MoonPay.
Central to the acquisition's logic is North Capital's regulatory standing: its affiliates carry SEC registrations that allow them to operate infrastructure spanning securities tokenization, capital raising, asset management, clearing, custody, and secondary-market trading. That licensed backbone is what MoonPay is buying access to, rather than simply a customer base or brand. Folding those capabilities into MoonPay's existing operations is meant to give the company a more direct route into handling tokenized securities rather than relying on third-party rails.
The transaction is corroborated by separate coverage, including reporting from coindesk.com, which likewise frames the purchase as an all-stock arrangement centered on North Capital's SEC-registered status. Two distinct outlets describing the same structure and price point lends the reported terms added weight, even though neither has published the full agreement.
MoonPay has framed the move as a step toward broadening its footprint in tokenized real-world assets, an area where regulatory licensing is often the bottleneck rather than technology. By absorbing an entity that already holds the necessary registrations, MoonPay appears to be prioritizing compliance infrastructure over building comparable licenses from scratch.
Still unclear is the precise timeline for regulatory approval, how North Capital's existing clients and operations will be folded into MoonPay's platform, and whether the all-stock structure implies any specific valuation of MoonPay itself. Further details on integration plans and closing conditions have not yet been disclosed.