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MoonPay acquires crypto key management company Sodot, launches institutional business division
BlockBeats News, April 29 — Cryptocurrency payment company MoonPay announced the acquisition of Israeli crypto key management infrastructure company Sodot, and simultaneously launched a new business division called MoonPay Institutional aimed at traditional financial institutions.
According to Bloomberg, this transaction is a full stock acquisition, valuing Sodot at approximately $100 million. Sodot was founded in 2023, focusing on MPC (Multi-Party Computation) and TEE (Trusted Execution Environment) technologies, and has secured over 10 million wallets and processed more than $50 billion in transactions. Its clients include eToro and BitGo.
MoonPay stated that Sodot’s infrastructure will become the core of its institutional business, serving asset management firms, market makers, custodians, and wallet service providers among traditional financial clients.
MoonPay’s Chief Legal Officer and former acting Chair of the U.S. CFTC, Caroline D. Pham, will serve as CEO of Moon Global Markets and lead the newly established institutional business division.
MoonPay also pointed out that institutional demand is rapidly increasing. The company cited data showing that by 2025, stablecoin trading volume will reach $33 trillion, with over $28 trillion in the first quarter of 2026 alone. Currently, the total market cap of stablecoins is about $320 billion.