MoonPay Buys Crypto Security Firm Sodot for $100M to Launch Institutional Division

TLDR

• MoonPay acquired Israeli crypto security firm Sodot in an all-stock deal worth ~$100 million
• Sodot specializes in multi-party computation (MPC) key management for institutional crypto wallets
• MoonPay is launching a new institutional division called MoonPay Institutional
• Former CFTC Acting Chair Caroline Pham will lead the division as CEO of Moon Global Markets
• Stablecoin transaction volume hit $33 trillion in 2025, with Q1 2026 already exceeding $28 trillion

MoonPay has acquired Israeli crypto security company Sodot in an all-stock deal valued at around $100 million, the company announced on Wednesday. The deal marks a major shift for MoonPay, moving it beyond retail crypto payments into institutional financial services.

Sodot was founded in 2023 and focuses on crypto key management infrastructure. It has secured over $50 billion in transactions and protected more than 10 million wallets. Clients include eToro and BitGo.

The company specializes in self-hosted multi-party computation, or MPC. This is a method that splits a private key into separate parts held by different parties, making it harder for funds to be compromised.

MoonPay will use Sodot’s technology as the core of its new business unit, MoonPay Institutional. The division will serve financial institutions, asset managers, trading firms, and exchanges that are entering digital asset markets.

Ivan Soto-Wright, CEO and co-founder of MoonPay, called the institutional arm “the next stage” for the company. He said the platform will help financial services firms now entering the digital asset space.

A New Leader for Institutional Push

Caroline Pham will lead MoonPay Institutional as CEO of Moon Global Markets. Pham joined MoonPay in December 2025 as Chief Legal Officer and Chief Administrative Officer. Before that, she served as Acting Chair of the US Commodity Futures Trading Commission.

Pham said MoonPay Institutional gives financial firms a unified platform that supports any token, any chain, and any wallet, with the ability to plug into existing systems.

Institutional Demand Is Growing

The launch comes as demand from traditional finance for crypto infrastructure is rising. Goldman Sachs reports that 71% of institutional asset managers plan to increase their digital asset exposure over the next 12 months.

More than two-thirds of institutional investors now want exposure to decentralized finance yields, according to Nomura Securities.

Stablecoin transaction volume reached $33 trillion in 2025. In Q1 2026 alone, that figure exceeded $28 trillion, according to MoonPay. Total stablecoin market cap sits around $320 billion, up about 50% since early last year.

MoonPay Institutional will cover trading, tokenized securities, payments, wallet management, and stablecoin issuance.

Other custody providers have also been expanding. Last week, crypto exchange OKX integrated off-exchange settlement through BitGo. Before that, BitMEX partnered with Zodia Custody to support institutional crypto derivatives trading.

Sodot CEO Ido Sofer said joining MoonPay gives the company the scale to make its technology central to how financial institutions secure and move digital assets.

The post MoonPay Buys Crypto Security Firm Sodot for $100M to Launch Institutional Division appeared first on CoinCentral.