Crypto payments firm MoonPay has acquired Sodot, an Israeli crypto security startup, as part of its plan to launch MoonPay Institutional, a new unit built for large financial institutions looking to access crypto. Bloomberg reports that it’s an all-stock deal worth about $100 million.
The new unit will offer tools for trading, tokenized securities, payments, wallet management and stablecoin issuance. Sodot’s technology will serve as the key management layer for the business.
Source: X.com
MoonPay Institutional will be led by Caroline D. Pham, who joined MoonPay in December as chief legal officer and chief administrative officer after serving as acting chair of the Commodity Futures Trading Commission last year.
MoonPay has nearly 30 million customers worldwide and powers the infrastructure of 500 firms across the decentralized economy.
Source: sodot.dev
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