MoonPay acquires Sodot, launches institutional division

MoonPay acquired Sodot for about $100M to launch MoonPay Institutional, a new division offering secure crypto services to financial institutions using Sodot’s key management technology.

MoonPay has acquired Israeli crypto security startup Sodot in an all-stock deal valued at around $100 million. This move is part of MoonPay’s strategy to expand its presence in the institutional crypto market by launching a new division, MoonPay Institutional. Sodot’s advanced key management and multi-party computation (MPC) technology will serve as the core security infrastructure for this new unit. MoonPay Institutional will offer services such as trading, tokenized assets, payments, custody infrastructure, wallet management, and stablecoin issuance. The division aims to serve financial institutions, asset managers, trading firms, and exchanges seeking secure and efficient digital asset solutions. Caroline D. Pham will lead MoonPay Institutional. This acquisition highlights the growing demand for robust crypto custody and infrastructure among traditional finance firms, positioning MoonPay to support institutional clients entering the digital asset space.