MoonPay Acquires Crypto Security Firm Sodot

This acquisition marks a significant move for MoonPay as it seeks to expand its offerings in the institutional crypto market. S1S2

• MoonPay's acquisition of Sodot is valued at approximately $100 million. S2
• The acquisition is structured as an all-stock deal. S2
• Sodot specializes in crypto security infrastructure. S1
• The new unit, MoonPay Institutional, will cater to large financial institutions. S2
• MoonPay Institutional aims to provide tools for trading and tokenized securities. S2
• The unit will also focus on payments, wallet management, and stablecoin issuance. S2
• Caroline Pham, former CFTC Acting Chair, will lead the new institutional unit. S1
• Sodot's technology will be integral to the operations of MoonPay Institutional. S2

• The acquisition positions MoonPay to better serve the growing demand for crypto services among institutional investors. S1
• By enhancing its security capabilities, MoonPay aims to build trust with large financial institutions. S2

• Monitor developments from MoonPay regarding the launch of MoonPay Institutional. S1
• Watch for updates on how Sodot's technology will be integrated into MoonPay's offerings. S2