MoonPay acquires Israeli crypto security firm Sodot in $100 million stock deal
MoonPay acquired Israeli crypto security firm Sodot for $100 million in stock to launch its institutional business.Summary
Crypto payments firm MoonPay has acquired Israeli startup Sodot in an all-stock deal valued at approximately $100 million. This acquisition aims to bolster MoonPay's infrastructure for its new institutional business unit, MoonPay Institutional, which is designed for large financial institutions seeking access to the crypto market. The new unit will provide tools for trading, tokenized securities, payments, wallet management, and stablecoin issuance, with Sodot's technology serving as the core management layer. MoonPay Institutional will be led by Caroline D. Pham, former acting chair of the Commodity Futures Trading Commission. Sodot's self-hosted multi-party computation (MPC) infrastructure is particularly suited for institutions requiring stringent control over asset movements and transaction approvals. This move follows MoonPay's recent acquisitions of stablecoin platform Iron and crypto checkout firm Helio, indicating a strategic expansion into enterprise infrastructure. MoonPay currently serves nearly 30 million customers globally and supports 500 firms in the decentralized economy.
(Source：CoinDesk)