MoonPay Acquires Sodot to Launch Institutional Crypto Services
MoonPay acquires Israeli crypto security firm Sodot for approximately $100 million to establish its MoonPay Institutional business unit aimed at banks and asset managers, as reported by CoinDesk. The integration will leverage Sodot's technology for key management and multi-party computation infrastructure.
On April 29, 2026, MoonPay announced the acquisition of Sodot, an Israeli startup specializing in crypto security, in a deal valued at about $100 million. This acquisition is part of MoonPay's strategy to launch its MoonPay Institutional unit, which will cater to large financial institutions such as banks and asset managers seeking to engage with crypto.
MoonPay Institutional will leverage Sodot's key management tools and the startup's multi-party computation (MPC) infrastructure. MPC helps institutions maintain tight control over their asset management processes, including transaction approvals and automated operations. The new business unit will offer various services encompassing trading, tokenized securities, payments, wallet management, and stablecoin issuance.
Caroline D. Pham, who previously served as the acting chair of the Commodity Futures Trading Commission (CFTC), will lead the MoonPay Institutional unit. Pham joined MoonPay in December 2025, bringing her regulatory expertise to strengthen the company’s positioning in a more compliant financial landscape.
This acquisition is part of a broader trend where MoonPay expands its services beyond individual users, as evidenced by its previous acquisitions, including the stablecoin platform Iron and the crypto checkout firm Helio. With nearly 30 million users and partnerships with 500 firms in the decentralized economy, MoonPay is working to deepen its enterprise infrastructure.
As MoonPay pushes into institutional offerings, it raises questions about how well these services will perform in a competitive market, particularly given ongoing regulatory scrutiny in the cryptocurrency space. Observers will be watching how MoonPay's new unit evolves and integrates its offerings within the traditional finance sector.
Summary based on original reporting by Francisco Rodrigues at CoinDesk, originally published Apr 29, 2026. SolanaWire does not republish source content.
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