MoonPay Acquires Israeli Crypto Security Firm Sodot for $100 Million, Launches Institutional Division

MoonPay acquired Israeli crypto key management firm Sodot for $100 million in stock and launched MoonPay Institutional, a new division targeting banks and asset managers entering digital asset markets. Former CFTC Acting Chair Caroline Pham will lead the institutional division as CEO of Moon Global Markets, bringing regulatory expertise to the expansion. Sodot, founded in 2023, has secured over $50 billion in transactions and protected more than 10 million wallets for clients including eToro and BitGo. The move capitalizes on surging institutional interest, with stablecoin volumes reaching $28 trillion in Q1 2026 alone and Goldman Sachs reporting 71% of institutional asset managers plan to increase digital asset exposure over the next year.

MoonPay's Acquisition of Sodot and Institutional Expansion

• ▪MoonPay launched MoonPay Institutional, a new division targeting financial institutions entering digital asset markets
• ▪Caroline D. Pham, former acting CFTC Chairman and current MoonPay Chief Legal Officer, will lead MoonPay Institutional as CEO of Moon Global Markets
• ▪MoonPay acquired Sodot in an all-stock deal reportedly worth about $100 million
• ▪MoonPay announced the Sodot acquisition and MoonPay Institutional launch on Wednesday

Sodot's Technology and Track Record in Crypto Security

• ▪Sodot has protected more than 10 million wallets
• ▪Sodot has secured over $50 billion in transactions

Growing Institutional Demand for Digital Asset Infrastructure

• ▪Total stablecoin market capitalization increased about 50% since early last year
• ▪Stablecoin transaction volume in Q1 2026 alone exceeded $28 trillion
• ▪Total stablecoin market capitalization is around $320 billion as of the article's writing
• ▪Goldman Sachs reports that 71% of institutional asset managers plan to increase their digital asset exposure over the next 12 months
• ▪Stablecoin transaction volume reached $33 trillion in 2025

Perspective of Sodot

• ▪Sodot's $100 million acquisition valuation reflects market recognition of its MPC and TEE security technology for institutional crypto custody