MoonPay Acquires Key-Management Firm to Bolster Institutional Crypto Services

MoonPay, a leading provider of digital asset payment services, has made a significant move into the institutional market by acquiring Sodot, a key-management infrastructure firm. The deal, valued at approximately $100 million in stock, will support MoonPay's new Institutional unit, designed to cater to banks, asset managers, trading firms, and exchanges.

The acquisition of Sodot brings MoonPay internal technology for wallet control, transaction approvals, automated asset movement, and institutional security workflows. This will enable the company to provide a comprehensive suite of tools for regulated financial institutions to manage their digital assets securely and efficiently.