Key Highlights
- MoonPay agreed to acquire North Capital Investment Technology in an all-stock transaction reportedly valued at more than $60 million.
- North Capital provides brokerage, custody, clearing and secondary-market infrastructure for private and tokenized securities.
- Its PPEX platform is an SEC-registered alternative trading system with more than 1,250 approved assets.
MoonPay has agreed to acquire North Capital Investment Technology, a Utah-based financial infrastructure provider focused on private and tokenized securities.
According to an announcement published on September 23, North Capital will become a wholly owned subsidiary of MoonPay once the transaction closes.
The companies did not disclose the financial terms. However, people familiar with the deal told Fortune and CoinDesk that the all-stock transaction is valued at more than $60 million.
North Capital provides brokerage and trading infrastructure
North Capital provides services for private securities issuers, fund managers, intermediaries and investors.
Its business covers investor onboarding, capital raising, transaction processing, escrow, custody and secondary-market trading.
The company operates PPEX, an SEC-registered alternative trading system (ATS) for secondary trading of private and other exempt securities, including digital asset securities.
According to MoonPay, North Capital has supported more than $8.7 billion in primary and secondary transaction volume. PPEX has more than 1,250 approved assets available for secondary-market trading.
North Capital’s affiliated businesses include SEC-registered broker-dealers, a transfer agent and an investment adviser.
MoonPay has expanded beyond crypto payments
The North Capital deal follows several recent moves that have broadened MoonPay’s role in digital-asset infrastructure.
On September 17, WisdomTree announced that it was developing a MoonPay-powered access point for WTGXX, expanding distribution of its tokenized fund beyond WisdomTree’s own channels. The companies were also exploring additional tokenized fund opportunities.
That development followed MoonPay’s August integration with Trust Wallet, which enabled users to make USDT transfers and interact with decentralized applications on TRON with transaction fees handled automatically through MoonPay’s infrastructure.
The North Capital acquisition would take that expansion into a different part of the financial market by adding regulated securities infrastructure.
North Capital already works with digital securities
North Capital’s existing operations cover both traditional exempt securities and digital asset securities.
Through PPEX, the company provides a secondary trading venue, while its other regulated entities support brokerage, custody, transfer and related services.
That means the acquisition would give MoonPay an existing securities-market infrastructure rather than requiring it to establish those functions independently.
MoonPay founder and CEO Ivan Soto-Wright said:
“All financial markets are becoming more technology-driven, but the infrastructure supporting them is still fragmented across different tech stacks, providers, and workflows.”
Deal still requires regulatory approval
The transaction has been approved by the boards of both companies but has not yet closed.
Completion remains subject to required regulatory approvals and other customary closing conditions.
Until closing, North Capital’s regulated businesses will continue operating under their existing structures.
MoonPay has not announced a detailed timeline for integrating North Capital’s operations following completion.
Deal Expands MoonPay’s Securities Infrastructure
The acquisition connects MoonPay’s crypto and digital-asset infrastructure with North Capital’s existing securities operations.
For MoonPay, the deal would add regulated brokerage, trading and custody capabilities at a time when tokenized securities are gaining attention among financial institutions.
For North Capital, the transaction would place its securities infrastructure within a company with an established presence in crypto payments and digital assets.
The immediate next step is regulatory approval. The longer-term significance of the deal will depend on how MoonPay uses North Capital’s existing securities infrastructure after the transaction closes.
Also Read: NYSE and Blockchain.com Sign MOU to Distribute Tokenized US Stocks to Crypto Users
