MoonPay acquires North Capital, registered SEC , in an all-stock deal for $60 million

Cryptocurrency payments company MoonPay announced via e-mail on Wednesday that it plans to acquire private market investment platform North Capital in order to advance its token cryptocurrency business. According to people familiar with the matter told CoinDesk, the deal is an all-stock transaction valued at more than $60 million pending regulatory approval.

Upon completion of the transaction, North Capital will become a wholly owned subsidiary of MoonPay based in Salt Lake City, Utah. The platform provides private equity issuers and fund managers with technical infrastructure required for securitization transactions totaling approximately $9 billion, covering financing, asset management, clearing, custody, and secondary market trading. Affiliates under North Capital are registered as broker-dealers, dealers, account holders, and investment advisors at United States .

MoonPay founder and CEO Ivan Soto-Wright stated that the acquisition is aimed at building a regulatory compliance foundation to drive mass adoption of token emulated real world assets. He also said that integrating these capabilities into the MoonPay ecosystem will help connect all components of the financial system with modern programming infrastructure.

In recent months, MoonPay has continued to expand beyond its crypto payments core business with the launch of Trade platforms that provide services for banking and finance tech company interconnection token digital assets, DeFi protocols and stablecoin liquidity.