On April 29, 2026, the crypto payments platform MoonPay announced the acquisition of the Israeli security infrastructure provider Sodot, marking the official launch of its new MoonPay Institutional division. According to Bloomberg reports, the deal closed as an all-stock transaction valued at approximately $100 million, enabling MoonPay to integrate advanced custody and key management technology to attract asset managers and trading firms.
The technical infrastructure of MoonPay’s new institutional unit will be based on the key management system developed by Sodot. Founded in 2023, the firm specializes in self-hosted Multi-Party Computation (MPC). Sodot’s technology utilizes a cryptographic method that splits a private key into multiple shares distributed among independent parties, eliminating the single point of failure in digital asset custody.
This acquisition addresses a market trend where traditional financial services firms demand more robust wallet infrastructures. MoonPay plans to apply these tools in areas including stablecoin issuance, corporate wallet management, and tokenized securities trading. Previously, the company had shown interest in expanding its operational reach through strategic collaborations, as seen in the case where Deel partnered with MoonPay to offer stablecoin payroll, a move that facilitated cross-border payments for remote workers in the UK and the European Union.
MoonPay Institutional will be led by Caroline Pham, who assumed the roles of Chief Legal Officer and Chief Administrative Officer in December 2025. Pham has extensive public sector experience, having served as a commissioner and acting chair of the U.S. Commodity Futures Trading Commission (CFTC). Her appointment in late 2025 was aimed at strengthening the company’s regulatory compliance ahead of institutional capital entry.
Ivan Soto-Wright, CEO of MoonPay, stated in the official press release via PR Newswire that Pham’s background is essential for navigating capital markets and current regulatory frameworks. The institutional division aims to compete directly with established custody and settlement providers by offering a gateway for firms seeking direct exposure to digital assets without compromising banking-grade security standards.
MoonPay’s move occurs during a period of service consolidation for crypto sector professionals. During the final week of April 2026, other industry players made similar moves to integrate segregated custody and off-exchange settlement services. The Bloomberg report on MoonPay’s $100 million bet highlights that the demand for secure infrastructure has grown as traditional banks and hedge funds increase their participation in the ecosystem.
MoonPay Institutional’s offering will not be limited solely to buying and selling assets. The company has detailed that its roadmap includes technical support for firms wishing to launch their own digital assets or manage complex treasuries. Sodot’s MPC technology will allow these organizations to maintain control over their private keys while utilizing MoonPay’s payment network.
With this step, the company seeks to diversify its revenue, which has traditionally been dependent on retail transaction fees. The integration of Caroline Pham as the leader of the institutional strategy suggests a focus on transparency and alignment with global financial regulations, a mandatory requirement for clients from Wall Street and other international financial hubs.
The completion of Sodot’s technological integration is expected by the next quarter, at which point MoonPay Institutional will begin processing the first settlement operations for its pilot clients.
This article is for informational purposes and does not constitute financial advice.
