MoonPay is moving deeper into institutional digital assets with the acquisition of Sodot, an Israeli crypto security startup whose key management technology will become a core part of the company’s new institutional platform. The transaction, reported at about $100 million, gives the crypto payments company additional infrastructure as banks, asset managers, trading firms and exchanges seek safer ways to enter blockchain-based markets. The deal also highlights the rising value of security-focused infrastructure as digital asset adoption shifts from consumer-led activity toward regulated financial services.
Deal Expands MoonPay’s Institutional Strategy
MoonPay said the acquisition will support MoonPay Institutional, a new business designed to help financial institutions access crypto, stablecoin and decentralized finance services through a single technology stack. The company said the platform will cover areas including wallet infrastructure, custody, trade execution, compliance, stablecoin settlement and cross-chain collateral movement. By bringing Sodot into its infrastructure, MoonPay is aiming to reduce the operational complexity that large firms face when they try to assemble digital asset services from multiple vendors.
Sodot Brings Key Management Expertise
Founded in 2023 by Ido Sofer, Shalev Keren, Matan Hamilis and Elichai Turkel, Sodot specializes in secure key management for crypto companies and institutional users. Its technology is built around self-hosted multi-party computation and trusted execution environment products, allowing organizations to manage private keys, API keys and other sensitive credentials while retaining operational control. Sodot says its systems have supported more than $50 billion in transactions and protected over 10 million wallets for customers that include eToro, BitGo, Flow Traders and Exodus.
Israel Operations and Customer Continuity
Following the acquisition, Sodot’s team, technology and customer relationships will move under MoonPay, while existing clients are expected to keep receiving access to the startup’s products, integrations and support. CTech reported that Sodot’s 15 employees will join MoonPay and that the business is expected to continue operating independently as MoonPay invests further in its Israeli presence. That commitment reflects MoonPay’s view that Israel’s cryptography and cybersecurity talent can play a meaningful role in the next stage of institutional digital asset infrastructure.
Leadership and Market Context
MoonPay Institutional will be led by Caroline D. Pham, the former acting chairman of the U.S. Commodity Futures Trading Commission, who also serves as MoonPay’s chief legal officer and chief administrative officer. Her appointment signals that MoonPay wants the new unit to appeal not only to crypto-native companies, but also to regulated firms that need strong governance, compliance tools and institutional credibility. The company is launching the unit at a time when stablecoins, tokenized assets and on-chain liquidity are drawing more attention from traditional financial institutions.
For MoonPay, Sodot is more than a bolt-on acquisition; it is intended to become the security layer behind a broader push into institutional financial technology. For Sodot, the transaction gives its team a larger commercial platform and a route to embed its key management products into services used by global financial firms. The acquisition underscores a wider market shift in which crypto companies are competing less on consumer access alone and more on the infrastructure required to make digital assets usable, compliant and secure at institutional scale.