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

Cryptocurrency payments firm MoonPay has agreed to acquire private-markets infrastructure platform North Capital in an all-stock transaction valued at more than $60 million. The move marks a significant expansion for MoonPay into tokenized assets, allowing the company to integrate regulated financial services directly into its growing non-crypto business lines.

According to a Wednesday announcement, the transaction will result in North Capital becoming a wholly owned subsidiary of MoonPay upon closing. The deal remains subject to regulatory approval and other customary closing conditions.

North Capital, based in Salt Lake City, provides technology and regulated financial services to private securities issuers, fund managers, intermediaries, and investors. The platform has processed more than $8.7 billion in primary and secondary transaction volume. Its operational scope includes capital raising, asset management, clearing, custody, and secondary trading. The company’s business units comprise SEC-registered broker-dealers, a transfer agent, an investment adviser, and PPEX, a registered alternative trading system that lists more than 1,250 approved assets for secondary-market trading.

MoonPay CEO and founder Ivan Soto-Wright stated that while financial markets are becoming more technology-driven, the supporting infrastructure remains fragmented across various tech stacks, providers, and workflows. The acquisition aims to address this fragmentation by consolidating these capabilities under one roof.

This deal follows a series of strategic moves by MoonPay to diversify beyond its core crypto payments business. In May, the company launched Trade, a platform designed to connect banks and fintech companies with tokenized assets, decentralized finance protocols, and stablecoin liquidity. Earlier this year, MoonPay also acquired DFlow, a Solana trading infrastructure provider, and crypto security startup Sodot.

In July, MoonPay added the Discover Network to its payment options, enabling eligible Discover cardholders to buy and sell cryptocurrencies through the platform. With this addition, Discover joins Visa and Mastercard as the third major U.S. card network supported by MoonPay. The company also offers Apple Pay and PayPal as payment methods.

MoonPay is currently a privately held company. It has not announced or filed for an initial public offering, although reports indicate that ICE, the owner of the NYSE, has shown interest in investing in the firm.