MoonPay Agrees To Acquire SEC-Registered North Capital In All-Stock Deal Worth Over $60 Million

MoonPay buys North Capital

MoonPay agreed to acquire North Capital, a Utah-based private-markets investment platform, in an all-stock transaction worth more than $60 million, with the deal set to close only after regulatory approvals and other customary closing conditions are met.

MoonPay said the acquisition would fold North Capital and its roughly $9 billion in primary and secondary transaction volume into MoonPay as a wholly owned subsidiary once approvals arrive.

BigGo Finance

North Capital, based in Salt Lake City, operates broker-dealers, an alternative trading system, a transfer agent and an investment adviser, all registered with the U.S. Securities and Exchange Commission.

MoonPay CEO and founder Ivan Soto-Wright framed the move as a step toward "building the regulatory foundation to support mass adoption of tokenized real-world assets."

MoonPay positioned the purchase as part of a broader expansion beyond crypto payments, including its May launch of MoonPay Trade to connect banks and fintechs to tokenized assets, decentralized finance protocols and stablecoin liquidity.

SourcesBigGo Finance

Regulated securities infrastructure

North Capital’s technology infrastructure is designed to let private securities issuers and fund managers tokenize securities, supporting capital raising, asset management, clearing, custody and secondary trading. MoonPay’s acquisition also brings in North Capital’s SEC-registered securities infrastructure, including broker-dealer, alternative trading system, transfer agent and investment adviser licenses. MoonPay said the integration would help connect different parts of the financial system through modern, programmable infrastructure, echoing Soto-Wright’s view that "We believe bringing those capabilities into the MoonPay ecosystem can help connect different parts of the financial system through modern, programmable infrastructure."

CoinDesk described the deal as adding North Capital’s securities-tokenization infrastructure and regulatory registrations to MoonPay’s operations, while noting the transaction is subject to regulatory approval. citybiz reported that North Capital’s platform includes PPEX ATS, its registered alternative trading system, and that more than 1,250 approved assets are available for secondary trading through the platform.C

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SourcescitybizCoinDesk

What changes after closing

MoonPay said North Capital will become a wholly owned subsidiary once the transaction closes, and the companies’ boards have signed off on the agreement.

“The transaction was unanimously approved by the boards of directors of MoonPay and North Capital.”

FX News Group

MoonPay’s expansion into tokenized assets and regulated securities infrastructure is tied to the acquisition’s promise to support issuance, custody and secondary trading of private securities, including tokenized securities.

North Capital said its platform has supported more than $8.7 billion in primary and secondary transaction volume, and the deal is presented as bringing that operational experience into MoonPay’s ecosystem.

James P. Dowd, North Capital’s founder and CEO, said MoonPay has built a global financial technology platform with significant reach and that "We see a compelling opportunity to combine our teams and capabilities while continuing to support the clients and partners who have helped build North Capital."

Fortune reported that a person familiar told it MoonPay paid over $60 million in an all-stock deal, while MoonPay did not disclose the financial terms in its announcement.F

SourcesFX News GroupFortune