MoonPay has announced a significant expansion into the institutional market with the launch of MoonPay Institutional, a new business division aimed at providing robust digital asset infrastructure for financial institutions, asset managers, trading firms, and exchanges. Leading this initiative will be Caroline Pham, the former acting chairman of the U.S. Commodity Futures Trading Commission (CFTC), who has previously joined MoonPay as CEO of Moon Global Markets and is also serving as Chief Legal Officer and Chief Administrative Officer.
As part of this strategic expansion, MoonPay has acquired Sodot, an Israeli firm known for its key management infrastructure. Founded in 2023 by Ido Sofer, Shalev Keren, Matan Hamilis, and Elichai Turkel, Sodot specializes in building self-hosted multi-party computation (MPC) and trusted execution environment (TEE) products for managing private keys and API credentials. The company has already secured over $50 billion in transactions and is protecting more than 10 million wallets, emphasizing its strong foothold in the digital asset security space. The entire Sodot team, along with its technology and customer base, will integrate into MoonPay, with plans to bolster operations in Israel.
MoonPay Institutional is set to offer a comprehensive “institutional stack” that includes wallet infrastructure and key management powered by Sodot’s technologies, custody services through MoonPay Trust Company, which is regulated by the New York Department of Financial Services, as well as a Crypto API Vault for managing exchange credentials. The platform also features on-chain trade execution, cross-chain collateral mobility, and access to aggregated OTC and DeFi liquidity across multiple networks and protocols, including Ethereum, Solana, and BSC, boasting connectivity to over 200 additional networks.
In addition to these functionalities, the new division will provide a payments layer facilitating white-label issuance of stablecoins, reserve management, and cross-border settlements across more than 120 fiat currencies. MoonPay has already established integrations with platforms like PayPal, Paysafe, and Deel, reaching an extensive network that includes over 7,500 merchants and an estimated 100 million users.
MoonPay’s CEO and founder, Ivan Soto-Wright, highlighted the firm’s ambition to become the world’s leading crypto payments network. He noted that the launch of the institutional arm represents a significant milestone in extending MoonPay’s capabilities to financial services firms venturing into the digital asset space.
The timing of this launch aligns with a notable rise in institutional demand for digital asset infrastructure. According to research from the Federal Reserve, stablecoin transaction volume surged to $33 trillion in 2025, with more than $28 trillion recorded in the first quarter of 2026 alone. The stablecoin market capitalization has increased over 50% to exceed $317 billion since early 2025. Moreover, research indicates that over two-thirds of institutional investors are now seeking exposure to decentralized finance (DeFi) yields, while a substantial majority of institutional asset managers are planning to enhance their digital asset exposure in the coming year.
As MoonPay moves forward, it appears well-positioned to capitalize on the growing trend of institutional interest in digital assets, leveraging both its new institutional unit and the capabilities acquired from Sodot.
