MoonPay, the leading crypto payments network, announced the acquisition of Sodot, the key management infrastructure company that secured over $50 billion in transactions and protected more than 10 million wallets for clients including eToro, BitGo, Flow Traders, and Exodus.

The acquisition forms the foundation of MoonPay Institutional, MoonPay’s new business serving financial institutions, asset managers, trading firms and exchanges entering digital asset markets. It provides a comprehensive technology infrastructure platform that enables access to the digital asset and DeFi ecosystem for services across banking, payments, trading, wealth management and treasury products. MoonPay Institutional will be led by Caroline D. Pham, CEO of Moon Global Markets and former acting Chairman of the U.S. Commodity Futures Trading Commission (CFTC). Pham also serves as MoonPay's Chief Legal Officer and Chief Administrative Officer, and is an independent board director of CoinShares PLC (Nasdaq: CSHR). 

The launch comes as demand for institutional-grade digital asset infrastructure and access to both cross-chain collateral mobility and aggregated DeFi liquidity accelerates. Over two-thirds of institutional investors now want exposure to DeFi yields, according to Nomura Securities. Stablecoin transaction volume reached $33 trillion in 2025, with Q1 2026 alone exceeding $28 trillion, and total stablecoin market capitalization has surpassed $317 billion, growing over 50% since early 2025, according to Federal Reserve research. According to Goldman Sachs, 71% of institutional asset managers plan to increase their digital asset exposure over the next 12 months. 

The transition to next-generation open financial markets and payments infrastructure requires regulated firms to deploy stablecoin, tokenized asset, and crypto services to the highest standard that is both protocol and venue-agnostic. Most firms lack the capability to build this in-house, and sourcing each component from a separate provider adds operational friction and slows time to market.

MoonPay Institutional provides integrated technology solutions that are natively on-chain and interoperable across multiple protocol networks, with KYC and compliance tools for the entire digital asset transaction flow from wallet infrastructure, custody, on-chain order routing and trade execution, and collateral operations to stablecoin settlement. Client solutions are available through direct integration, embedded, or white-label products. Sodot’s infrastructure will serve as the secure key management foundation of MoonPay Institutional’s technology stack.

"We built MoonPay to be the world's leading crypto payments network. Our institutional arm is the next stage, and together with Sodot's infrastructure, it will allow us to bring this platform to financial services firms now entering the digital asset space. There is no one better suited to lead this business than Caroline, who brings decades of experience at the highest levels of financial regulation and capital markets," said Ivan Soto-Wright, CEO and Founder of MoonPay.

Acquisition of Sodot

Sodot was founded in 2023 by Ido Sofer, Shalev Keren, Matan Hamilis, and Elichai Turkel. The four leverage a collective experience of over 20 years in cryptography and security, across the private sector, elite cybersecurity intelligence units and academia.

Sodot is a crypto key management company specializing in self-hosted MPC and TEE products. Sodot’s platform enables institutional asset managers, market makers, custodians and wallet providers to store, manage and govern their most sensitive keys - from private keys to API keys, with zero exposure and full control. 

Sodot's clients include some of the most security-conscious firms in digital assets. Flow Traders, one of the world's largest global market makers, announced recently the integration of Sodot's Exchange API Vault for secure governance of trading API keys across venues while maintaining real-time trading performance. The platform has been audited by Trail of Bits, NCC Group and Halborn, and holds SOC 2 Type 2 certification from EY.

The acquisition brings Sodot's full team, technology, and customer relationships into MoonPay. Existing Sodot customers will continue to receive uninterrupted access to their products, integrations, and support. MoonPay also intends to invest further in Sodot’s Israeli operations, building on the region's deep expertise in cryptography and cybersecurity.

“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. Joining MoonPay gives us the scale to expand our reach and make our technology central to how financial institutions secure and move digital assets,” said Ido Sofer, CEO and Co-Founder of Sodot.