MoonPay has acquired Sodot, a crypto key-management infrastructure firm, and launched MoonPay Institutional, a new business aimed at serving banks, asset managers, trading firms, and exchanges moving into digital assets.

The new unit will be led by Caroline Pham, the former acting chair of the Commodity Futures Trading Commission, who joined MoonPay in December as chief legal officer and chief administrative officer, according to a Wednesday announcement.

MoonPay said Sodot’s technology will become the security foundation for the institutional platform.

The company added that Sodot has secured more than $50 billion in transactions and protected more than 10 million wallets for clients, including eToro, BitGo, Flow Traders, and Exodus. Bloomberg reported the all-stock acquisition closed this month and was worth about $100 million, citing people familiar with the matter.

A central part of the acquisition is to provide regulated financial firms with one stack for wallets, key management, custody, execution, collateral movement, stablecoin settlement, and compliance rather than forcing them to stitch together multiple vendors.

Per MoonPay, the new service will offer self-hosted MPC and TEE wallet infrastructure. The firm will offer custody through its New York trust company, along with onchain order routing and trade execution, cross-chain collateral mobility, access to OTC and DeFi liquidity, and stablecoin and payments tools.

Today's deal lands in the middle of a broader buildout at MoonPay.

Previous coverage noted the firm acquired stablecoin infrastructure company Iron in a deal worth at least $100 million, bought Solana payments company Helio for $175 million, and later acquired payments startup Meso as it expanded its reach.

MoonPay also picked up a New York trust charter and BitLicense in late 2025, giving it a stronger footing in custody and institutional trading.