Hassan Maishera
TL;DR
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MoonPay has agreed to acquire private-markets infrastructure provider North Capital in an all-stock transaction reportedly worth more than $60 million.
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North Capital will become a wholly owned MoonPay subsidiary after the deal closes, subject to regulatory approval.
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The company’s platform has supported approximately $9 billion in primary and secondary private-market transactions.
Cryptocurrency payments company MoonPay has agreed to acquire North Capital, a private-markets investment and technology platform, as it builds the regulatory and operational infrastructure needed to offer tokenized real-world assets.
North Capital will become a wholly owned subsidiary of MoonPay when the transaction closes. The acquisition remains subject to regulatory approval.
People familiar with the transaction revealed that the all-stock deal is valued at more than $60 million. Neither company disclosed the official purchase price in its announcement.
The deal extends MoonPay’s expansion beyond consumer cryptocurrency payments and gives it access to North Capital’s securities infrastructure, regulatory registrations and private-market experience.
North Capital Brings $9 Billion in Transaction Volume
Founded in Salt Lake City, Utah, North Capital supplies technology and regulated services to private securities issuers and investment fund managers.
Its platform has supported approximately $9 billion in primary and secondary transaction volume.
Primary transactions occur when companies or funds issue securities to investors to raise capital. Secondary transactions allow investors to buy and sell existing securities after their original issuance.
North Capital provides infrastructure spanning several stages of that process, including capital raising, asset management, clearing, custody, and secondary trading.
Those capabilities could help MoonPay build a more complete tokenization platform rather than serving only as the payment layer through which investors purchase digital assets.
After the acquisition closes, North Capital is expected to continue operating as a wholly owned MoonPay subsidiary. The companies did not say whether its branding, management, or workforce would change.
A central attraction of North Capital is the regulatory status held by its affiliated companies.
The affiliates maintain registrations covering broker-dealer services, trading, securities transfers, and investment advice under the oversight of the US Securities and Exchange Commission.
Those permissions are important because tokenizing a financial asset does not remove it from securities law. A blockchain-based representation of a private fund interest, stock or bond may remain subject to the same investor-protection, disclosure and market rules as its traditional equivalent.
MoonPay CEO and founder Ivan Soto-Wright said the acquisition would help the company build the regulatory foundation required for broader adoption of tokenized real-world assets.
“We believe bringing those capabilities into the MoonPay ecosystem can help connect different parts of the financial system through modern, programmable infrastructure,” he said.
Owning regulated infrastructure could give MoonPay greater control over product development and reduce its reliance on outside financial intermediaries. However, the company will still need to comply with the conditions attached to each registration and obtain approval for individual products where required.
MoonPay Expands Beyond Crypto Payments
MoonPay is best known for providing fiat-to-crypto payment services that allow users to purchase digital assets through cards, bank transfers and other conventional payment methods.
In recent months, the company has expanded into infrastructure for banks, fintech firms and institutional clients.
MoonPay launched its Trade platform in May to connect financial institutions with tokenized assets, decentralized-finance protocols and stablecoin liquidity.
The product is designed to give companies access to blockchain-based markets without requiring them to develop every technical connection independently.
Adding North Capital could extend that service into regulated private securities. MoonPay may be able to combine payments, liquidity, token issuance and secondary-market infrastructure within one ecosystem.
The acquisition therefore represents more than an expansion of MoonPay’s existing checkout services. It positions the company to participate in the issuance, management and trading of blockchain-based financial products.
Deal Continues MoonPay’s Acquisition Spree
North Capital is the latest company MoonPay has agreed to purchase as it expands its technology and regulatory capabilities.
Earlier this year, MoonPay acquired DFlow, a Solana-based trading infrastructure provider. DFlow developed systems for routing orders and connecting applications with liquidity across digital-asset markets.
MoonPay also acquired Israeli cryptocurrency security company Sodot in an all-stock transaction reportedly valued at $100 million. That deal strengthened its security infrastructure as the company moved into more complex institutional products.
The three acquisitions address different parts of MoonPay’s emerging platform. DFlow contributes trading technology, Sodot adds security capabilities and North Capital brings regulated private-market infrastructure.
Integrating the businesses could allow MoonPay to offer a wider range of services, but acquisitions also create execution risks. The company must combine different systems, maintain regulatory compliance, and demonstrate that the expanded platform can attract issuers and investors.
