MoonPay Swipes North Capital for $60M+ in Stock, Because Tokenized Boring Stuff Is Still Boring Until It Isn't 📊

MoonPay has agreed to acquire private-markets infrastructure provider North Capital in an all-stock transaction valued at more than $60 million, a person familiar with the matter told Cointelegraph. The deal, announced Wednesday, gives the crypto payments company a regulated foothold in US securities infrastructure at a moment when tokenized real-world assets are drawing fresh institutional attention.

North Capital will operate as a wholly owned MoonPay subsidiary once the transaction closes, subject to regulatory approvals and other customary closing conditions. Both companies' boards have already approved the acquisition.

The Midvale, Utah-based target brings a stack of SEC-registered entities to the table, including a broker-dealer, an alternative trading system (ATS), a transfer agent and an investment adviser. According to the announcement, North Capital has supported more than $8.7 billion in primary and secondary transaction volume across its platform.

MoonPay CEO Ivan Soto-Wright said the acquisition would help the company connect parts of the financial system through "modern, programmable infrastructure." The deal extends MoonPay's footprint into the issuance, custody and secondary trading of private securities, including tokenized securities, building on its core crypto on-ramp business.

MoonPay is currently valued at $3.4 billion, according to Traxcn. North Capital's most recent funding event was a $2.18 million seed round in October 2021, led by investors including Karlani Capital and Fiduciary Trust International, per the same data provider.

The purchase is the latest in MoonPay's 2025 acquisition run, following deals for key management company Sodot, trading infrastructure platform DFlow and AI finance operations platform Entendre. Together, those additions have expanded the company's capabilities across institutional custody, onchain trading and financial operations as it pushes beyond payments into broader financial plumbing.