MoonPay buys crypto security firm Sodot in $100M push into institutional crypto

MoonPay has acquired Israel-based crypto security infrastructure provider Sodot, forming the foundation of its new institutional unit led by former CFTC Acting Chair Caroline Pham.

Crypto payments platform MoonPay is launching an institutional unit after acquiring Sodot, an Israeli crypto security infrastructure provider.

MoonPay on Wednesday announced the acquisition of Sodot, using Sodot’s key management technology as the core infrastructure layer of its new business serving financial institutions, asset managers, trading firms and exchanges entering digital asset markets.

"We built MoonPay to be the world's leading crypto payments network,” MoonPay co-founder and CEO Ivan Soto-Wright said in a press release, adding that its institutional arm is the next stage for the company.

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