TL;DR
- MoonPay will acquire North Capital, a private markets platform with $9 billion in transaction volume, in an all-stock deal.
- The deal is valued at over $60 million. The goal is to build regulatory infrastructure for the mass adoption of tokenized real-world assets.
- North Capital, headquartered in Salt Lake City, will operate as a wholly owned subsidiary after the transaction closes, pending regulatory approval.
MoonPay, the crypto payments company, announced the acquisition of North Capital, a private markets investment platform with approximately $9 billion in primary and secondary transaction volume.
The deal, structured entirely in stock, exceeds $60 million in valuation according to sources close to the transaction.
North Capital, headquartered in Salt Lake City, Utah, will operate as a wholly owned subsidiary of MoonPay once the transaction receives regulatory approval.
The platform provides technological infrastructure for the tokenization of securities for private issuers and fund managers, covering capital raising, asset management, clearing, custody, and secondary trading. Its affiliates hold registrations as broker-dealer, intermediary, transfer agent, and investment adviser with the U.S. Securities and Exchange Commission.
Regulatory Infrastructure: The Core of MoonPay’s Expansion
Ivan Soto-Wright, CEO and founder of MoonPay, explained that the transaction aims to “build the regulatory foundation to support the mass adoption of tokenized real-world assets.” He also noted that incorporating North Capital’s capabilities into the company’s ecosystem will allow it to connect different parts of the financial system through modern, programmable infrastructure.
The acquisition is part of the expansion strategy MoonPay has been executing throughout 2025. The company had already brought on DFlow, a Solana-based trading infrastructure provider, and Sodot, a security-focused startup. It also established its Trade platform to connect banks and fintechs with tokenized assets, DeFi protocols, and stablecoin liquidity, gradually moving away from its core cryptocurrency payments business.
Tokenization consists of representing real-world assets —such as stocks, bonds, and commodities— as tradable tokens on blockchain networks. The segment has become one of the most relevant use cases of blockchain technology for traditional financial institutions, with projections pointing to a market worth several trillion dollars in the coming years.
