Key Highlights
- MoonPay purchased Israeli cryptocurrency security company Sodot through an all-equity transaction valued at approximately $100 million
- Sodot’s expertise lies in multi-party computation (MPC) technology for securing institutional digital asset wallets
- The acquisition enables MoonPay to establish MoonPay Institutional, a dedicated business unit
- Caroline Pham, previously Acting Chair of the CFTC, assumes leadership as CEO of Moon Global Markets
- Stablecoin transactions reached $33 trillion throughout 2025, while Q1 2026 alone surpassed $28 trillion
Crypto payment platform MoonPay announced Wednesday its acquisition of Sodot, an Israeli cryptocurrency security firm, in an all-stock transaction worth approximately $100 million. This strategic purchase represents MoonPay’s significant expansion beyond consumer-facing crypto payment solutions into enterprise-level financial infrastructure.
Established in 2023, Sodot has built expertise in digital asset key management systems. The firm has facilitated security for transactions exceeding $50 billion and safeguarded more than 10 million cryptocurrency wallets. Its client roster features prominent names like eToro and BitGo.
Sodot’s primary technology centers on self-hosted multi-party computation (MPC). This cryptographic approach divides private keys into multiple fragments distributed across different entities, significantly reducing vulnerability to security breaches.
[[LINK_START_0]]MoonPay[[LINK_END_0]] plans to leverage Sodot’s infrastructure as the foundation for MoonPay Institutional, its newly created division. This unit will cater to financial institutions, investment management firms, proprietary trading operations, and cryptocurrency exchanges entering the digital asset ecosystem.
Ivan Soto-Wright, MoonPay’s CEO and co-founder, characterized the institutional division as representing “the next stage” in the company’s evolution. He emphasized the platform will facilitate traditional financial services companies transitioning into digital assets.
Regulatory Expert Takes the Helm
Caroline Pham will oversee MoonPay Institutional in her capacity as CEO of Moon Global Markets. Pham joined the company in December 2025, holding dual roles as Chief Legal Officer and Chief Administrative Officer. Her previous position included serving as Acting Chair of the United States Commodity Futures Trading Commission.
According to Soto-Wright, Pham contributes “decades of experience at the highest levels of financial regulation and capital markets.”
Pham described MoonPay Institutional as offering financial institutions a comprehensive platform supporting any digital token, blockchain network, and wallet type, with seamless integration capabilities for existing infrastructure.
Traditional Finance Embraces Digital Assets
The timing of this launch aligns with accelerating adoption of cryptocurrency infrastructure by conventional financial institutions. Research from Goldman Sachs indicates that 71% of institutional asset managers intend to expand their digital asset allocations within the coming year.
Data from Nomura Securities shows over two-thirds of institutional investors are seeking access to decentralized finance yield opportunities.
Stablecoin transaction volumes totaled $33 trillion throughout 2025. The first quarter of 2026 alone generated over $28 trillion in stablecoin transactions, MoonPay reported. The aggregate stablecoin market capitalization currently stands near $320 billion, representing roughly 50% growth since the beginning of last year.
MoonPay Institutional’s service offerings will encompass digital asset trading, tokenized securities, payment processing, wallet infrastructure, and stablecoin creation.
Competing custody providers have similarly pursued expansion strategies. Last week, cryptocurrency exchange OKX announced integration of off-exchange settlement capabilities through BitGo. Prior to that, BitMEX established a partnership with Zodia Custody to enable institutional cryptocurrency derivatives trading.
Ido Sofer, CEO of Sodot, stated that merging with MoonPay provides the necessary scale to position the company’s technology at the center of how financial institutions secure and transfer digital assets.
