MoonPay Acquires Crypto Security Startup Sodot in $100 Million All-Stock Deal

Odaily reports that MoonPay has announced the acquisition of Israeli crypto security startup Sodot in a $100 million all-stock transaction. Upon completion of this acquisition, Sodot will be integrated into the company's newly formed MoonPay Institutional division. It is reported that MoonPay Institutional will provide a range of cryptocurrency and blockchain services to large traditional financial institutions, including trading, tokenized securities, payments, wallet management, and stablecoin issuance. The division is led by Caroline D. Pham, who joined MoonPay in December of last year as Chief Legal Officer and Chief Administrative Officer, having previously served as Acting Chair of the U.S. Commodity Futures Trading Commission (CFTC). (Bloomberg)