MoonPay Expands Into Institutional Crypto with $100M Sodot Acquisition

Key Highlights

• Crypto payments platform MoonPay purchased Israeli security company Sodot for approximately $100 million in an all-stock transaction
• The acquisition targets Sodot’s expertise in multi-party computation (MPC) technology for securing institutional digital asset wallets
• A dedicated institutional business unit, MoonPay Institutional, will be established following the deal
• Caroline Pham, previously Acting Chair of the CFTC, assumes leadership as CEO of Moon Global Markets
• The stablecoin market processed $33 trillion in transactions during 2025, with Q1 2026 volumes surpassing $28 trillion

Crypto payments platform MoonPay revealed Wednesday its acquisition of Sodot, an Israeli digital asset security firm, through an all-stock agreement worth approximately $100 million. This strategic move signals MoonPay’s pivot from consumer-focused crypto services toward enterprise-grade financial infrastructure.

Established in 2023, Sodot has built infrastructure for managing cryptographic keys that has facilitated over $50 billion in transaction volume while safeguarding more than 10 million digital wallets. The company counts major players like eToro and BitGo among its client roster.

Sodot’s core offering centers on self-custodied multi-party computation technology. MPC distributes a single private key across multiple entities, significantly reducing vulnerability to security breaches and unauthorized access.

MoonPay plans to integrate Sodot’s technological capabilities as the foundation for MoonPay Institutional, its newly created enterprise division. This unit will cater to banks, wealth managers, proprietary trading operations, and cryptocurrency exchanges navigating digital asset adoption.

According to MoonPay CEO and co-founder Ivan Soto-Wright, the institutional offering represents “the next stage” in the company’s evolution. He emphasized the platform will provide critical infrastructure for traditional financial institutions now exploring blockchain-based assets.

Regulatory Veteran Takes the Helm

MoonPay Institutional will operate under the leadership of Caroline Pham, who becomes CEO of Moon Global Markets. Pham joined the company in December 2025, assuming roles as Chief Legal Officer and Chief Administrative Officer. Her previous position was Acting Chair at the US Commodity Futures Trading Commission.

Pham characterized MoonPay Institutional as offering financial institutions a comprehensive solution supporting any digital token, blockchain network, or wallet type while maintaining compatibility with legacy infrastructure.

Traditional Finance Embraces Digital Assets

The timing aligns with accelerating institutional adoption of cryptocurrency infrastructure. Research from Goldman Sachs indicates 71% of institutional asset managers intend to expand their digital asset positions within the coming year.

Nomura Securities data shows over two-thirds of institutional capital allocators now seek access to yields generated through decentralized finance protocols.

Stablecoin networks processed $33 trillion in transaction volume throughout 2025. The first quarter of 2026 alone saw volumes eclipse $28 trillion, per MoonPay’s figures. The aggregate stablecoin market capitalization currently stands near $320 billion, representing roughly 50% growth since early in the previous year.

MoonPay Institutional’s service portfolio will encompass digital asset trading, tokenized securities, payment processing, wallet administration, and stablecoin creation.

Competing custody solutions have similarly expanded their capabilities. Cryptocurrency exchange OKX recently added off-exchange settlement functionality via BitGo integration. BitMEX separately formed a partnership with Zodia Custody to enable institutional trading of crypto derivatives.

Sodot CEO Ido Sofer stated the combination with MoonPay provides the necessary scale to position the company’s technology as fundamental infrastructure for how financial institutions secure and transfer digital assets.

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