MoonPay has acquired Sodot in a deal valued at $100 million and launched a new institutional platform to expand its role in digital asset infrastructure.
Key Takeaways
- MoonPay acquired Sodot for $100 million to strengthen its crypto infrastructure capabilities.
- Launch of MoonPay Institutional targets banks, asset managers, and trading firms.
- Caroline D. Pham will lead the new division focused on institutional adoption.
- Rising demand for DeFi, stablecoins, and tokenized assets is driving this expansion.
What Happened?
MoonPay announced the acquisition of Sodot, a key management infrastructure firm, alongside the launch of MoonPay Institutional. The move marks a major step toward serving financial institutions entering the digital asset space.
The new division will offer a unified platform combining custody, trading, compliance, and payments tools, built on Sodot’s secure infrastructure.
BREAKING: MoonPay has acquired Sodot and launched MoonPay Institutional
— MoonPay 🟣 (@moonpay) April 29, 2026
we’ve always believed DeFi is for everyone
led by @CarolineDPham, we’re bringing access and infrastructure for the next generation of financial markets to TradFi institutions ready to invest trillions pic.twitter.com/XQsFwBt3QI
MoonPay Expands Beyond Consumer Crypto Services
Crypto payments firm MoonPay is making a strategic shift from retail-focused services toward institutional infrastructure. By acquiring Sodot, the company is positioning itself as a full-service provider for financial institutions entering digital assets.
The deal, reportedly valued at $100 million, brings Sodot’s technology, team, and client base into MoonPay’s ecosystem. Sodot has already secured over $50 billion in transactions and protected more than 10 million wallets, making it a trusted name among institutional players.
MoonPay CEO Ivan Soto-Wright said:
Launch of MoonPay Institutional
The newly launched MoonPay Institutional aims to simplify how regulated firms access crypto markets. It is designed as a unified platform that removes the need for institutions to rely on multiple vendors.
The platform includes:
- Wallet infrastructure and key management.
- Custody services via regulated entities.
- On-chain trade execution and routing.
- Cross-chain collateral mobility.
- Stablecoin issuance and settlement.
- Integrated KYC and compliance tools.
This approach addresses a growing challenge where institutions struggle to build secure crypto systems internally or manage fragmented solutions.
Leadership Under Caroline D. Pham
The institutional unit will be led by Caroline D. Pham, a former acting chairman of the U.S. Commodity Futures Trading Commission.
Pham said:
Her background in regulation, derivatives markets, and digital assets is expected to help MoonPay navigate complex institutional requirements.
Why Sodot’s Technology Matters?
Sodot specializes in self-hosted MPC and TEE solutions, allowing institutions to securely manage private keys and API credentials without third-party exposure.
Key highlights of Sodot’s platform:
- Full control over sensitive keys.
- Low latency transaction signing.
- Multi-cloud deployment.
- Audited security systems and SOC 2 Type 2 certification.
Its infrastructure is already used by major firms like eToro, BitGo, and Flow Traders, reinforcing its reputation for security.
Sodot CEO Ido Sofer said:
Institutional Demand Driving Growth
MoonPay’s move comes as institutional interest in digital assets continues to rise.
Key market signals include:
- Over two thirds of institutional investors want exposure to DeFi yields.
- Stablecoin transaction volume reached $33 trillion in 2025.
- Market capitalization of stablecoins has surpassed $317 billion.
- 71% of asset managers plan to increase crypto exposure within a year.
These trends highlight the need for secure, scalable, and compliant infrastructure, which MoonPay aims to provide through its new platform.
Aggressive Expansion Through Acquisitions
The Sodot deal is part of a broader acquisition strategy by MoonPay. The company has recently acquired:
- Stablecoin infrastructure firm Iron.
- Solana-based payments company Helio for $175 million.
- Payments startup Meso.
This pattern shows MoonPay’s ambition to build a comprehensive digital asset ecosystem that spans payments, infrastructure, and institutional services.
CoinLaw’s Takeaway
In my experience, this move feels like a natural evolution for MoonPay. The retail crypto payments space is crowded, and margins are tightening. By stepping into institutional infrastructure, MoonPay is targeting a much bigger opportunity.
I found this acquisition particularly important because security and key management are the backbone of crypto. Without strong infrastructure, institutions simply will not participate at scale. By bringing Sodot in house, MoonPay is not just adding a feature, it is strengthening its entire foundation.
If executed well, MoonPay could become a serious competitor to established institutional crypto providers. The real test will be how smoothly they integrate these services and win trust from traditional financial firms.
