Key Highlights
- Crypto payment platform MoonPay completed an all-stock acquisition of Israeli security firm Sodot valued at approximately $100 million
- The acquired company focuses on multi-party computation (MPC) technology for institutional-grade cryptocurrency wallet security
- A new institutional-focused business unit, MoonPay Institutional, will be established following the transaction
- Caroline Pham, previously Acting Chair of the CFTC, will serve as CEO of Moon Global Markets to oversee the division
- Stablecoin transactions reached $33 trillion throughout 2025, with the first quarter of 2026 surpassing $28 trillion
Crypto payment infrastructure provider MoonPay announced Wednesday its acquisition of Sodot, an Israeli cryptocurrency security specialist, in an all-stock transaction valued at approximately $100 million. The strategic move signals MoonPay’s expansion beyond its consumer-facing payment solutions into enterprise-grade financial services.
Established in 2023, Sodot has built a reputation for developing advanced cryptographic key management systems. The firm has facilitated the security of over $50 billion in digital asset transactions while safeguarding more than 10 million cryptocurrency wallets. Its client roster includes prominent names such as eToro and BitGo.
Sodot’s core technology revolves around self-hosted multi-party computation (MPC). This cryptographic approach distributes private key fragments across multiple parties, significantly reducing the risk of unauthorized access or asset theft.
MoonPay plans to integrate Sodot’s infrastructure as the foundation for its newly created business division, MoonPay Institutional. This unit will cater to traditional financial institutions, investment management firms, proprietary trading operations, and cryptocurrency exchanges seeking entry into digital asset markets.
Ivan Soto-Wright, MoonPay’s CEO and co-founder, described the institutional expansion as representing “the next stage” in the company’s evolution. He emphasized that the platform will provide critical infrastructure for legacy financial firms transitioning into digital assets.
Veteran Regulator Takes the Helm
MoonPay Institutional will operate under the leadership of Caroline Pham, who assumes the role of CEO at Moon Global Markets. Pham joined MoonPay in December 2025, holding dual positions as Chief Legal Officer and Chief Administrative Officer. Her previous role included serving as Acting Chair of the United States Commodity Futures Trading Commission.
Soto-Wright highlighted that Pham contributes “decades of experience at the highest levels of financial regulation and capital markets” to the organization.
According to Pham, MoonPay Institutional will deliver a comprehensive platform offering financial institutions interoperability across tokens, blockchain networks, and wallet types, with seamless integration capabilities for legacy infrastructure.
Rising Institutional Appetite for Digital Assets
The timing of this launch aligns with accelerating institutional adoption of cryptocurrency infrastructure. Research from Goldman Sachs indicates that 71% of institutional asset managers intend to expand their digital asset allocations within the coming year.
Nomura Securities data reveals that over two-thirds of institutional investors are now seeking access to decentralized finance yield opportunities.
Stablecoin transaction volumes demonstrated remarkable growth, totaling $33 trillion throughout 2025. The first quarter of 2026 alone witnessed transaction volumes exceeding $28 trillion, based on MoonPay’s data. The combined market capitalization of stablecoins currently stands near $320 billion, representing approximately 50% growth since the beginning of the previous year.
The MoonPay Institutional platform will encompass digital asset trading, tokenized securities, cross-border payments, wallet custody solutions, and stablecoin issuance services.
Competing custody providers have similarly pursued expansion strategies. Cryptocurrency exchange OKX recently implemented off-exchange settlement capabilities through a BitGo integration. Similarly, BitMEX established a partnership with Zodia Custody to enhance its institutional derivatives trading infrastructure.
Ido Sofer, CEO of Sodot, stated that joining forces with MoonPay provides the necessary scale to position the company’s technology as fundamental infrastructure for institutional digital asset custody and transfer operations.
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