In brief
- MoonPay acquired Sodot, a crypto key management infrastructure company, in an all-stock deal reportedly worth about $100 million.
- The acquisition forms the foundation of MoonPay Institutional, a new division targeting financial institutions entering digital asset markets.
- Caroline D. Pham, former acting CFTC Chairman and current MoonPay Chief Legal Officer, will lead the institutional business.
MoonPay said Wednesday that it acquired Israeli crypto key management company Sodot and launched MoonPay Institutional, positioning the payment processor to serve traditional finance firms seeking digital asset infrastructure.
While MoonPay didn’t disclose terms of the deal, Bloomberg reported that the all-stock deal values Sodot at…
