US crypto payments firm MoonPay buys Sodot for $100m

MoonPay, a crypto payments company, has acquired Israeli crypto security startup Sodot in an all-stock deal worth about US$100 million.

It prepares to launch MoonPay Institutional for large financial firms entering crypto.

The new unit will offer trading, tokenized securities, payments, wallet management, and stablecoin issuance.

Sodot’s multi-party computation technology will handle key management and transaction controls.

MoonPay said Caroline D. Pham, former acting chair of the US Commodity Futures Trading Commission, will lead the business, following the company’s earlier acquisitions of stablecoin platform Iron and crypto checkout firm Helio.

🔗 Source: CoinDesk

🧠 Food for thought

Implications, context, and why it matters.

Moving into services for institutions has been underway for years. The plan also included Helio, a crypto checkout company, plus Iron, a stablecoin platform 1.
During that expansion, MoonPay grew its consumer base from more than 7 million users in 2021 to over 30 million by mid-2025. That reach gave the company a base for this next step 2 1.
The shift came after MoonPay cut the internal valuation of its common shares in Q1 2023. That adds context to its push for steadier revenue with better margins, which could help rebuild value 3.

MoonPay is moving beyond the “fiat-to-crypto on-ramp” model, where revenue mostly comes from transaction fees 3.
It now combines Sodot security technology, Iron stablecoin tools, plus Helio payments and checkout software. That makes MoonPay a wider infrastructure provider for financial institutions and other businesses 1.
The move carries more weight because MoonPay has approvals such as the New York BitLicense, a license required for certain crypto business activities in New York. That can help with U.S. availability and support talks with large institutional clients 1.
That puts more pressure on other crypto payments firms to build fuller business offerings. Otherwise they may rely mostly on consumer fees, which MoonPay has said can reach 4.5% for buying or selling crypto by credit card 3.