MoonPay to buy North Capital in all-stock deal worth over $60M

MoonPay, a company best known for crypto payment services, has agreed to buy North Capital, a private-markets infrastructure provider, in an all-stock transaction the buyer says will surpass $60 million in value, according to a person familiar with the matter. The companies said the purchase will let MoonPay expand into regulated U.S. securities infrastructure as it develops services for tokenized real-world assets.

North Capital operates multiple SEC-registered businesses, including broker-dealers, an alternative trading system (ATS), a transfer agent and an investment adviser. The firm has supported more than $8.7 billion in primary and secondary transaction volume, according to the announcement. After the deal closes, North Capital will become a wholly owned subsidiary of MoonPay.

MoonPay described the acquisition as a way to extend its product set to cover issuance, custody and secondary trading of private securities, including tokenized securities. CEO Ivan Soto-Wright said the move would help the company connect parts of the financial system through "modern, programmable infrastructure," according to the announcement shared with Cointelegraph.

Both MoonPay's and North Capital's boards have approved the transaction, which still requires customary closing conditions and regulatory approvals. The purchase follows several acquisitions by MoonPay this year as it broadens beyond payments, including the management company Sodot, trading infrastructure platform DFlow, and AI finance operations firm Entendre. MoonPay last raised capital in October 2021 in a $2.18 million seed round; third-party data cited a company valuation of $3.4 billion.