Key Highlights
- MoonPay completed an all-stock acquisition of Israeli crypto security company Sodot valued at approximately $100 million
- The acquisition brings multi-party computation (MPC) key management technology for enterprise-grade crypto wallets
- A new institutional-focused division, MoonPay Institutional, will be established following the deal
- Caroline Pham, previously Acting Chair of the CFTC, assumes leadership as CEO of Moon Global Markets
- Stablecoin transactions reached $33 trillion in 2025, with Q1 2026 volumes already surpassing $28 trillion
Crypto payment platform MoonPay revealed on Wednesday its acquisition of Sodot, an Israeli cryptocurrency security firm, through an all-stock transaction valued at approximately $100 million. This strategic move represents a significant expansion for MoonPay as it transitions from consumer-focused crypto payments toward serving institutional financial markets.
Established in 2023, Sodot has built a reputation in crypto key management infrastructure. The firm has facilitated security for more than $50 billion in transaction value while protecting over 10 million digital wallets. Its client roster includes prominent names like eToro and BitGo.
Sodot’s core expertise lies in self-hosted multi-party computation (MPC) technology. This sophisticated approach divides private keys into multiple segments distributed among various parties, significantly reducing vulnerability to security breaches.
MoonPay plans to integrate Sodot’s technology as the foundation for MoonPay Institutional, its newly created business division. This unit will cater to financial institutions, investment managers, trading operations, and cryptocurrency exchanges seeking to expand their digital asset capabilities.
Ivan Soto-Wright, MoonPay’s CEO and co-founder, described the institutional division as representing “the next stage” in the company’s evolution. He emphasized that the platform will provide critical infrastructure for traditional financial services firms making their entry into digital assets.
Regulatory Veteran Takes the Helm
MoonPay Institutional will operate under the leadership of Caroline Pham, who assumes the role of CEO for Moon Global Markets. Pham joined MoonPay in December 2025, taking on dual responsibilities as Chief Legal Officer and Chief Administrative Officer. Her background includes 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” to the organization.
Pham described MoonPay Institutional as offering financial institutions a comprehensive platform with universal compatibility across tokens, blockchains, and wallet types, designed for seamless integration with legacy infrastructure.
Traditional Finance Embraces Digital Assets
The timing of this launch aligns with accelerating interest from traditional financial institutions in cryptocurrency infrastructure. Research from Goldman Sachs indicates that 71% of institutional asset managers intend to expand their digital asset holdings within the coming year.
Nomura Securities data shows that over two-thirds of institutional investors are now seeking access to yields from decentralized finance protocols.
Stablecoin activity hit $33 trillion in transaction volume throughout 2025. Remarkably, the first quarter of 2026 alone has already generated more than $28 trillion in stablecoin transactions, based on MoonPay’s figures. The aggregate stablecoin market capitalization currently stands near $320 billion, representing approximately 50% growth since the beginning of last year.
MoonPay Institutional’s service portfolio will encompass trading operations, tokenized securities, payment processing, wallet custody, and stablecoin creation.
Competing custody providers have similarly been broadening their offerings. Last week saw cryptocurrency exchange OKX implement off-exchange settlement capabilities through a BitGo integration. Previously, BitMEX formed a partnership with Zodia Custody to facilitate institutional trading in crypto derivatives.
Ido Sofer, CEO of Sodot, stated that the merger with MoonPay provides the necessary scale to position the company’s technology as fundamental infrastructure for how financial institutions secure and transfer digital assets.
