Crypto payments firm MoonPay has agreed to acquire Utah-based North Capital Investment Technology in an all-stock deal valued at over $60 million. The acquisition provides MoonPay with critical SEC-registered infrastructure, including broker-dealers, an alternative trading system, and a transfer agent. This move allows MoonPay to expand directly into tokenized real-world assets and private securities, bypassing the need to apply for individual licenses. The transaction has board approval but awaits final regulatory clearance.
Acquisition Agreement and Status
- ▪MoonPay entered a definitive merger agreement to acquire North Capital Investment Technology in an all-stock deal valued at over $60 million
- ▪Upon completion of MoonPay's acquisition of North Capital Investment Technology, North Capital Investment Technology will operate as a wholly owned subsidiary of MoonPay
- ▪MoonPay's merger agreement to acquire North Capital Investment Technology has been unanimously approved by the boards of both MoonPay and North Capital Investment Technology
- ▪The acquisition of North Capital Investment Technology by MoonPay remains subject to required regulatory approvals and customary closing conditions
North Capital's Business and Assets
- ▪In January 2026, North Capital Investment Technology and tokenization firm tZERO announced Agora, a network allowing qualified subscribers of one alternative trading system to access securities listed on another
- ▪North Capital Investment Technology's platform has supported over $8.7 billion in primary and secondary transaction volume, and its PPEX alternative trading system has more than 1,250 approved assets available for secondary trading
- ▪North Capital Investment Technology holds multiple SEC registrations, including two broker-dealers, an alternative trading system named PPEX, a transfer agent, and an investment adviser
MoonPay's business expansion
- ▪MoonPay's acquisition of North Capital Investment Technology is its latest transaction in a series of acquisitions dating back to January 2025, which includes the purchase of Solana trading infrastructure provider DFlow
- ▪In August 2026, MoonPay allowed Cash App users to spend their Cash App balances at MoonPay's cryptocurrency checkout
MoonPay's licensing strategy
- ▪North Capital Investment Technology's extensive portfolio of Securities and Exchange Commission licenses was a key factor in MoonPay's decision to purchase North Capital Investment Technology
- ▪On September 15, 2026, MoonPay opened a route for its users to invest in a tokenized Treasury fund from WisdomTree, which required WisdomTree Securities to handle the brokerage because MoonPay lacked its own U.S. broker-dealer
Debatable claims
- ▪Tokenization will drive mass retail demand for private-market securities
- ▪The SEC should require tokenized stocks to carry voting rights and dividends
- ▪The SEC should allow transfer agents to maintain official shareholder records on a blockchain
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