MoonPay Expands into Institutional Markets with $100 Million Sodot Acquisition

MoonPay is pivoting toward the institutional sector through the acquisition of Sodot, an Israeli-based provider of crypto security infrastructure. The deal, valued at approximately $100 million in an all-stock transaction, allows MoonPay to integrate advanced key management technology into its service offerings. This strategic move marks a transition for MoonPay from a primarily retail-focused payments network to a comprehensive infrastructure provider for asset managers, trading firms, and exchanges. By leveraging Sodot's multi-party computation (MPC) technology, MoonPay aims to provide the secure custody and wallet management required by traditional financial institutions entering the digital asset space. The new institutional arm will be headed by Caroline Pham, who joined MoonPay as chief legal and administrative officer in late 2025. Pham previously served as the Acting Chair of the U.S. Commodity Futures Trading Commission (CFTC), bringing significant regulatory expertise to the company's expansion efforts. The acquisition aligns with a broader industry trend where crypto firms are enhancing institutional-grade settlement and custody. Recent examples include OKX's integration of BitGo and BitMEX's partnership with Zodia Custody, highlighting the increasing demand for segregated, off-exchange collateral management among professional traders.