MoonPay to acquire SEC-registered North Capital in $60 million all-stock deal
Short summary
MoonPay is buying North Capital, a private-markets platform with $9 billion in transaction volume, to gain SEC-registered securities-tokenization infrastructure. The all-stock deal positions MoonPay to move beyond crypto payments into regulated tokenized assets and DeFi.
- North Capital's SEC registrations (broker-dealer, trading, transfer agent, investment advisor) give MoonPay the regulatory foundation it needs to operate in tokenized securities
- The deal is part of MoonPay's broader pivot away from pure crypto payments—they've launched a Trade platform for tokenized assets and stablecoin liquidity and acquired DFlow and Sodot earlier this year
- Tokenization of real-world assets (stocks, bonds, commodities) is becoming a multi-trillion dollar opportunity, and this acquisition lets MoonPay connect traditional finance infrastructure to blockchain networks
Full summary
MoonPay is buying North Capital, a private-markets investment platform, for over $60 million in an all-stock deal. North Capital handles around $9 billion in transaction volume and runs the infrastructure that lets companies tokenize securities—turning stocks, bonds, and other assets into blockchain tokens. The company's affiliates already hold SEC registrations as a broker-dealer and trading firm, which is the regulatory heavy lifting MoonPay needs.
The acquisition fills a gap in MoonPay's expansion strategy. The company started as a crypto payments processor but has been pushing into tokenized assets, DeFi protocols, and stablecoin liquidity through its Trade platform. By absorbing North Capital's tech and regulatory credentials, MoonPay gets immediate access to the infrastructure and compliance framework required to operate in securities tokenization—a space where traditional finance institutions are increasingly active. This deal follows MoonPay's earlier acquisitions of DFlow and Sodot earlier in 2026.
What makes this move worth watching is the timing. Tokenization of real-world assets has shifted from fringe crypto talk to something major financial institutions are actually building. MoonPay's CEO frames this as connecting different parts of the financial system through "modern, programmable infrastructure." The regulatory approval requirement suggests this isn't a done deal yet, but the acquisition signals where the company sees the real opportunity—not just moving crypto around, but becoming infrastructure for how traditional assets move on blockchains.