MoonPay Buys Sodot in Institutional Crypto Push

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MoonPay has acquired Sodot, an Israeli crypto security infrastructure company, as the payments firm launches a new institutional digital asset business.

The deal gives MoonPay a key-management infrastructure layer for MoonPay Institutional, a new unit aimed at financial institutions, asset managers, trading firms and exchanges moving deeper into crypto. MoonPay said Sodot’s technology has secured more than $50 billion in transactions and protected more than 10 million wallets for clients including eToro, BitGo, Flow Traders and Exodus.

Deal Reportedly Valued at About $100 Million

MoonPay did not disclose the deal terms, market coverage shows that all-stock acquisition valued Sodot at about $100 million.

Sodot, founded in 2023, builds self-hosted security infrastructure for digital asset businesses. Its products use multi-party computation and trusted execution environments to help institutions manage private keys, policy controls and transaction signing without relying entirely on outsourced custody.

That infrastructure sits at the center of MoonPay’s institutional push. The company is moving beyond its consumer crypto on-ramp business to offer regulated firms key management, transaction controls and broader digital-asset infrastructure across banking, payments, trading, wealth management and treasury products.

Caroline Pham Will Lead the New Unit

MoonPay Institutional will be led by Caroline D. Pham, MoonPay’s chief legal officer and a former acting chair of the US Commodity Futures Trading Commission. Her appointment gives the new unit added regulatory weight as MoonPay targets banks, asset managers and trading firms. Those clients usually need more than wallet access or payments connectivity.

They need auditable controls, transaction policies, secure key management and systems that can plug into internal risk and compliance processes. MoonPay said the new business will support access to digital assets and DeFi infrastructure across banking, payments, trading, wealth management and treasury products.

MoonPay is Still Growing Through Acquisitions

The Sodot purchase continues MoonPay’s deal-driven expansion. The company acquired crypto checkout startup Helio for $175 million in 2025 and also bought stablecoin infrastructure firm Iron as it expanded its enterprise payments business.

Those deals point to a broader shift in strategy. MoonPay is building more of the stack needed for crypto payments, stablecoin settlement and custody-adjacent institutional services, instead of relying mainly on its consumer payment rails.

The institutional push also comes as banks and asset managers show more interest in stablecoins, tokenized assets and on-chain settlement. That creates an opening for infrastructure firms that can make digital asset operations feel closer to traditional finance.

Security is the First Step

The Sodot deal makes security infrastructure the foundation of MoonPay Institutional’s rollout. For traditional firms, the main hurdle is not only access to crypto markets. It is whether they can enter those markets with controls strong enough for regulators, auditors, compliance teams and clients.

By bringing Sodot in-house, MoonPay is expanding from consumer crypto payments into a broader institutional platform for firms that need secure wallet infrastructure, transaction controls and access to on-chain financial products.