On Wednesday, payment processor MoonPay announced it has acquired Israeli crypto key management firm Sodot and unveiled its new division, MoonPay Institutional. This strategic move aims to equip traditional finance firms with the necessary digital asset infrastructure.
Bloomberg reported that the all-stock transaction values Sodot at approximately $100 million. Since its inception in 2023, Sodot has managed over $50 billion in transactions and safeguarded more than 10 million wallets for clients such as eToro and BitGo. The firm specializes in self-hosted MPC and TEE products for institutional asset managers, market makers, custodians, and wallet providers.
Caroline D. Pham, MoonPay’s Chief Legal Officer and former acting CFTC Chairman, will oversee the newly established institutional division as CEO of Moon Global Markets.
“Boards and investors are asking management the same question: What is your digital asset strategy? MoonPay Institutional gives them the answer,” stated Pham. “A unified technology platform that supports any token, any chain, any wallet—and all with the flexibility to integrate into firms’ existing systems.”
Ivan Soto-Wright, CEO and Founder of MoonPay, described this new institutional arm as “the next stage” for the company. He added, “Together with Sodot’s infrastructure, it will allow us to bring this platform to financial services firms now entering the digital asset space.”
MoonPay’s expansion coincides with a growing demand from institutions for digital asset exposure. According to MoonPay, stablecoin transaction volume reached $33 trillion in 2025, and Q1 of 2026 alone exceeded $28 trillion. The total market capitalization for stablecoins is currently around $320 billion, marking an increase of about 50% since early last year.
Goldman Sachs reports that 71% of institutional asset managers intend to boost their digital asset exposure in the next 12 months. Additionally, more than two-thirds of institutional investors are now interested in gaining exposure to DeFi yields, as per Nomura Securities. This acquisition marks a strategic expansion for MoonPay beyond its primary retail cryptocurrency payment services.
“Sodot was built on the belief that keys are foundational to money movement, and that modern digital asset operations require infrastructure purpose-built for this need,” said Ido Sofer, CEO and co-founder of Sodot. “Joining MoonPay gives us the scale to expand our reach and make our technology central to how financial institutions secure and move digital assets.”