MoonPay Acquires Sodot, Launches Institutional Unit

MoonPay has acquired Sodot, a crypto key-management infrastructure firm, and launched MoonPay Institutional, a new business unit aimed at serving banks, asset managers, trading firms, and exchanges entering digital assets, according to a Wednesday announcement.

New Institutional Leadership

MoonPay Institutional will be led by Caroline Pham, the former acting chair of the Commodity Futures Trading Commission, who joined MoonPay in December as chief legal officer and chief administrative officer.

Sodot Acquisition Details

Sodot’s technology will serve as the security foundation for the institutional platform. According to Bloomberg, the all-stock acquisition closed this month and was valued at approximately $100 million. The firm has secured more than $50 billion in transactions and protected more than 10 million wallets for clients including eToro, BitGo, Flow Traders, and Exodus.

Institutional Service Stack

A central objective of the acquisition is to provide regulated financial firms with a unified platform covering wallets, key management, custody, execution, collateral movement, stablecoin settlement, and compliance, rather than requiring them to integrate multiple vendors.

MoonPay Institutional will offer self-hosted MPC and TEE wallet infrastructure, custody through its New York trust company, onchain order routing and trade execution, cross-chain collateral mobility, access to OTC and DeFi liquidity, and stablecoin and payments tools.

Broader MoonPay Expansion

The Sodot acquisition is part of a larger buildout at MoonPay. The company previously acquired stablecoin infrastructure firm Iron in a deal valued at at least $100 million, purchased Solana payments company Helio for $175 million, and acquired payments startup Meso. MoonPay also obtained a New York trust charter and BitLicense in late 2025, strengthening its position in custody and institutional trading.