TLDR
- Payment platform MoonPay has purchased Israeli security company Sodot through an all-stock transaction valued at approximately $100 million
- The acquired firm focuses on multi-party computation (MPC) technology for managing institutional cryptocurrency wallet keys
- A new business unit named MoonPay Institutional is being established following the acquisition
- Caroline Pham, previously Acting Chair of the CFTC, will serve as CEO of Moon Global Markets and oversee the institutional division
- Stablecoin transactions reached $33 trillion throughout 2025, while Q1 2026 alone surpassed $28 trillion in volume
Crypto payment platform MoonPay revealed Wednesday it has completed the acquisition of Sodot, an Israeli digital asset security provider, through an all-stock arrangement worth approximately $100 million. This strategic move represents a significant expansion for MoonPay as it transitions from consumer-focused crypto payments into the institutional finance sector.
Established in 2023, Sodot has built infrastructure for managing cryptographic keys in digital asset systems. The company has facilitated security for transactions exceeding $50 billion in value and safeguarded upward of 10 million digital wallets. Its client roster includes prominent names like eToro and BitGo.
The firm’s expertise centers on self-hosted multi-party computation (MPC) technology. This security approach divides private keys into multiple fragments distributed among different parties, significantly reducing vulnerability to unauthorized access or theft.
MoonPay plans to leverage Sodot’s technical capabilities as the foundation for its newly created business segment, MoonPay Institutional. This division will cater to traditional financial institutions, wealth managers, proprietary trading operations, and cryptocurrency exchanges seeking to establish or expand their digital asset operations.
Ivan Soto-Wright, who co-founded and leads MoonPay as CEO, described the institutional division as representing “the next stage” in the company’s evolution. He emphasized that the platform will facilitate entry into digital assets for traditional financial service providers.
A New Leader for Institutional Push
The MoonPay Institutional division will operate under the leadership of Caroline Pham, who assumes the role of CEO for Moon Global Markets. Pham joined the organization in December 2025, initially serving as Chief Legal Officer and Chief Administrative Officer. Her previous position was 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” to the organization.
Pham characterized MoonPay Institutional as offering financial institutions a comprehensive platform capable of supporting any digital token, any blockchain network, and any wallet solution, while seamlessly integrating with their current infrastructure.
Institutional Demand Is Growing
The timing of this launch aligns with increasing appetite from conventional finance for cryptocurrency infrastructure solutions. Research from Goldman Sachs indicates that 71% of institutional asset management firms intend to expand their digital asset holdings within the coming year.
Data from Nomura Securities shows that over two-thirds of institutional investors are now seeking access to returns generated through decentralized finance protocols.
Stablecoin transaction activity totaled $33 trillion throughout 2025. Just the first quarter of 2026 has already produced more than $28 trillion in volume, based on MoonPay’s data. The aggregate market capitalization of stablecoins currently stands near $320 billion, representing roughly 50% growth from early last year.
The services portfolio of MoonPay Institutional will encompass trading operations, tokenized securities, payment processing, digital wallet management, and stablecoin creation.
Competing custody service providers have similarly been broadening their offerings. The previous week saw cryptocurrency exchange OKX incorporate off-exchange settlement capabilities via BitGo. Prior to that, BitMEX formed a partnership with Zodia Custody to enable institutional cryptocurrency derivatives trading.
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 protect and transfer digital assets.
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