MoonPay, a crypto payments company, agreed to acquire private-markets infrastructure provider North Capital, expanding into regulated US securities infrastructure as it builds out services for tokenized real-world assets (RWAs).
The acquisition would allow MoonPay to expand into the issuance, custody and secondary trading of private securities, including tokenized securities, the company said in an announcement shared with Cointelegraph on Wednesday.
MoonPay’s all-stock deal to acquire North Capital is worth more than $60 million, a person familiar with the matter told Cointelegraph. MoonPay CEO Ivan Soto-Wright said the acquisition would help the company connect parts of the financial system through “modern, programmable infrastructure.”
The Midvale, Utah company last raised money in October 2021, in a $2.18 million seed round at an unspecified valuation, according to data compiled by Traxcn. Investors include Karlani Capital and Fiduciary Trust International. MoonPay is currently valued at $3.4 billion, according to Traxcn.
North Capital’s businesses include broker-dealers, an alternative trading system (ATS), a transfer agent and an investment adviser, all registered with the US Securities and Exchange Commission. The company has supported more than $8.7 billion in primary and secondary transaction volume, according to the announcement.
North Capital will become a wholly owned MoonPay subsidiary after the transaction closes. Both companies’ boards approved the acquisition, which remains subject to regulatory approvals and other customary closing conditions.
The acquisition is the latest in MoonPay’s buying spree this year as the company expands beyond crypto payments. Earlier purchases included key management company Sodot, trading infrastructure platform DFlow and AI finance operations platform Entendre, adding capabilities across institutional custody, onchain trading and financial operations.
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