MoonPay, the crypto payments company, said it had acquired Sodot, an Israeli startup that makes key-management infrastructure for digital asset firms, and announced a new business line, MoonPay Institutional, built on Sodot's technology. MoonPay announced the deal in late April 2026.
MoonPay did not disclose the price. Bloomberg, citing people familiar with the matter, reported that the deal was paid entirely in stock and valued at about $100 million, according to The Block. Calcalist reported that Sodot had raised only $4.5 million before the sale.
Sodot's 15 employees are joining MoonPay, Calcalist reported, and the company is expected to keep operating independently and continue selling its existing products. Calcalist also reported that MoonPay planned to deepen its investment in Israel.
What Sodot built
Sodot was founded in 2023 by Ido Sofer, its chief executive, together with Shalev Keren, Matan Hamilis and Elihai Turkel. It sells self-hosted software based on multi-party computation (MPC) and trusted execution environments (TEE), which lets institutions store and control sensitive keys, from crypto wallet private keys to API keys, without holding them in a single place.
The company says its technology has secured more than $50 billion in transactions and protects more than 10 million wallets. Its clients include eToro, BitGo, Flow Traders and Exodus. Sodot's systems have been audited by Trail of Bits, NCC Group and Halborn, and it holds a SOC 2 Type 2 certification from EY.
Sofer said the startup was built to act as a secure control layer for digital asset infrastructure, and that joining MoonPay would give it the scale to reach a broader market of financial institutions.
“Sodot was built to serve as a secure control layer for modern digital asset infrastructure. We are excited to join MoonPay and play a meaningful role in their vision for the future operating system for money. Together, we will bring this technology to a broader market and make it the infrastructure through which financial institutions secure and move digital assets.”
What MoonPay Institutional will sell
The new unit targets banks, asset managers, trading firms and exchanges that are starting to work with digital assets. MoonPay said it would offer self-hosted MPC and TEE wallet infrastructure, custody through MoonPay's New York trust company, onchain order routing and trade execution, the movement of collateral across blockchains, access to over-the-counter and decentralised finance liquidity, and stablecoin and payments tools.
The pitch is a single stack covering wallets, key management, custody, execution, collateral, stablecoin settlement and compliance, so that regulated firms do not need to assemble several vendors. Sodot's infrastructure is meant to be the security base for that stack.
MoonPay founder and chief executive Ivan Soto-Wright said the institutional arm was the next stage for a company built as a crypto payments network, and that Sodot's infrastructure would let it bring the platform to financial services firms entering the market.
Caroline Pham takes charge
MoonPay Institutional is led by Caroline D. Pham, a former acting chair of the US Commodity Futures Trading Commission. She joined MoonPay in December 2025 as chief legal officer and chief administrative officer and is also chief executive of Moon Global Markets.
Pham said boards and investors are asking company managers what their digital asset strategy is, and presented the new unit as an answer: one platform supporting any token, chain or wallet that can plug into a firm's existing systems.
The investors and MoonPay's buying spree
Entrée Capital led Sodot's seed round, and CMT Digital and DCG also invested, according to Calcalist. Angel investors included Aharon Schnarch, a former senior executive at Coinbase, and Ziv Gafni, a former senior executive at J.P. Morgan Chase.
Sodot is the latest in a series of MoonPay acquisitions. The company bought Solana payments firm Helio for $175 million in January 2025 and stablecoin infrastructure company Iron for at least $100 million in March 2025, The Block reported. It also bought payments startup Meso in September 2025 and obtained a New York trust charter and BitLicense late that year.
MoonPay says it serves more than 30 million users, according to Calcalist. With Sodot, it adds a product line aimed at regulated institutions and an engineering team in Israel that has already sold to some of the larger firms in the crypto market.
