Key Highlights
- MoonPay completed an all-stock acquisition of Sodot, an Israeli crypto security company, valued at approximately $100 million
- The acquired firm offers multi-party computation (MPC) technology for secure institutional crypto wallet management
- MoonPay Institutional represents the company’s new enterprise-focused division
- Caroline Pham, previously Acting Chair of the CFTC, takes the helm as CEO of Moon Global Markets
- Global stablecoin transaction volume reached $33 trillion throughout 2025, with Q1 2026 already surpassing $28 trillion
MoonPay confirmed Wednesday it has finalized an all-stock transaction to acquire Sodot, the Israeli crypto security firm, in a deal worth approximately $100 million. This strategic move represents MoonPay’s expansion from consumer-focused crypto payment solutions into enterprise-level financial infrastructure.
Launched in 2023, Sodot delivers crypto key management solutions for institutional clients. The company has facilitated the security of more than $50 billion in transactions while protecting over 10 million digital wallets. Its client roster features prominent names like eToro and BitGo.
Sodot’s primary offering centers on self-hosted multi-party computation (MPC) technology. This security approach divides private keys into multiple fragments distributed across different parties, significantly reducing vulnerability to unauthorized access.
MoonPay plans to integrate Sodot’s infrastructure as the foundation for MoonPay Institutional, its newly established business unit. This division targets asset managers, financial institutions, trading operations, and cryptocurrency exchanges looking to expand their digital asset capabilities.
Ivan Soto-Wright, MoonPay’s co-founder and CEO, described the institutional division as representing the company’s evolution. He emphasized the platform will support traditional financial services companies making their entry into digital assets.
Regulatory Veteran Takes Leadership Role
Moon Global Markets will operate under the leadership of Caroline Pham as CEO, who will oversee MoonPay Institutional. Pham came aboard in December 2025, filling dual roles as Chief Legal Officer and Chief Administrative Officer. Her background includes serving as Acting Chair at the US 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 organizations a comprehensive platform compatible with any token, blockchain, or wallet type, designed for seamless integration with legacy infrastructure.
Traditional Finance Shows Increasing Interest
The timing aligns with expanding appetite from conventional financial institutions for crypto-related services. Research from Goldman Sachs indicates 71% of institutional asset managers intend to expand their digital asset holdings within the coming year.
Nomura Securities data shows more than two-thirds of institutional investors seek access to decentralized finance yields.
Global stablecoin transactions totaled $33 trillion throughout 2025. The first quarter of 2026 alone saw volumes surpass $28 trillion, per MoonPay’s figures. The combined stablecoin market capitalization currently stands near $320 billion, representing roughly 50% growth from early last year.
MoonPay Institutional’s service offering will span trading operations, tokenized securities, payment processing, wallet infrastructure, and stablecoin creation.
Competing custody platforms have similarly pursued expansion strategies. Last week saw OKX integrate off-exchange settlement capabilities via BitGo. Earlier, BitMEX established a partnership with Zodia Custody to facilitate institutional derivatives trading in cryptocurrencies.
Ido Sofer, CEO of Sodot, stated the MoonPay partnership provides the resources needed to position its technology at the center of how financial institutions secure and transfer digital assets.
