MoonPay Buys Sodot for $100 Million, Launches Institutional Unit Led by Caroline Pham
Summary
- MoonPay said it acquired Sodot in a deal valued at $100 million and is ramping up its institutional business.
- MoonPay said it is launching MoonPay Institutional, led by former CFTC Acting Chair Caroline Pham.
- MoonPay said it is accelerating expansion through M&A, including the acquisitions of Sodot, Iron, Helio, and Meso.
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Crypto payments firm MoonPay has acquired key-management infrastructure provider Sodot and is making a full-scale push into the institutional market.
The company said April 29 that it bought Sodot in a deal valued at $100 million, The Block reported. The transaction was recently completed through a stock swap.
MoonPay also announced the launch of a new division, MoonPay Institutional. The unit will serve institutions entering the digital-asset market, including banks, asset managers, trading firms and exchanges.
Caroline Pham, the former acting chair of the U.S. Commodity Futures Trading Commission, will lead the business. She joined MoonPay in December 2025 as chief legal officer and chief administrative officer.
MoonPay plans to use Sodot's technology as the security backbone of its institutional business. Sodot has protected more than $50 billion in transactions and more than 10 million wallets, according to The Block.
MoonPay has been accelerating acquisitions as it expands. It previously bought stablecoin infrastructure company Iron for more than $100 million and acquired Solana-based payments company Helio for $175 million. It later acquired payments startup Meso.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
