MoonPay Buys Sodot for $100 Million, Launches Institutional Unit Led by Caroline Pham
Summary
- MoonPay said it acquired Sodot in a $100 million deal and is stepping up its push into institutional business.
- MoonPay said it is launching MoonPay Institutional, led by former acting CFTC Chair Caroline Pham.
- MoonPay said it is accelerating business expansion through M&A, including acquisitions of Sodot, Iron, Helio and Meso.
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Crypto payments company MoonPay has acquired key-management infrastructure firm Sodot for $100 million and is expanding further into institutional business.
The company announced the acquisition on April 29, citing a report from The Block. The transaction, valued at $100 million, was recently completed through a share swap.
MoonPay also launched a new division, MoonPay Institutional, on the same day. 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 US Commodity Futures Trading Commission, will lead the division. 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 secured more than $50 billion in transactions and more than 10 million wallets, according to The Block.
MoonPay has been speeding up dealmaking to expand its business. It previously acquired stablecoin infrastructure firm Iron for more than $100 million and bought Solana-based payments company Helio for $175 million. The company later acquired payments startup Meso.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
