MoonPay agrees to acquire North Capital for RWA expansion

MoonPay agreed to acquire private-markets infrastructure provider North Capital. A person familiar with the matter said the all-stock deal is worth more than $60 million. MoonPay said the acquisition would expand its services into the issuance, custody and secondary trading of private securities. Those services include tokenized securities. MoonPay CEO Ivan Soto-Wright said the acquisition would help connect parts of the financial system through modern, programmable infrastructure. North Capital operates broker-dealers, an alternative trading system, a transfer agent and an investment adviser. Those businesses are registered with the US Securities and Exchange Commission. North Capital has supported more than $8.7 billion in primary and secondary transaction volume, according to the announcement. North Capital will become a wholly owned MoonPay subsidiary after the transaction closes. Both companies' boards approved the acquisition. The transaction remains subject to regulatory approvals and other customary closing conditions. MoonPay last raised $2.18 million in a seed round in October 2021. The round had an unspecified valuation. Traxcn lists Karlani Capital and Fiduciary Trust International among MoonPay's investors. Traxcn values MoonPay at $3.4 billion. The acquisition is MoonPay's latest purchase this year as the company expands beyond crypto payments. Earlier purchases included Sodot, DFlow and Entendre. Those purchases added capabilities across institutional custody, onchain trading and financial operations.