MoonPay to Acquire SEC-Registered North Capital in Deal Worth More Than $60 Million

U.S. crypto payments company MoonPay is set to acquire U.S. private-market investment platform North Capital as it expands its tokenization business.

CoinDesk reported on September 23 that MoonPay had signed an all-stock acquisition agreement with North Capital. The deal is valued at more than $60 million.

The acquisition remains subject to approval by U.S. regulators. Once the transaction closes, North Capital will become a wholly owned subsidiary of MoonPay.

Based in Utah, North Capital provides the technology infrastructure needed to tokenize securities for private issuers and fund managers. Its services support capital raising, asset management, clearing, custody and secondary trading.

North Capital is registered with the U.S. Securities and Exchange Commission as a broker-dealer, transfer agent and investment adviser. MoonPay Chief Executive Officer Ivan Soto-Wright said the deal is intended to build a regulatory foundation to support wider adoption of real-world assets, or RWAs. Integrating North Capital's capabilities into the MoonPay ecosystem would help connect different parts of the financial system, he added.

MoonPay has recently been expanding beyond its core crypto payments business into tokenized assets and financial infrastructure. In May, it launched MoonPay Trade, a platform designed to help banks and fintech companies use tokenized assets, decentralized finance, or DeFi, and stablecoins.