MoonPay to Acquire SEC-Registered North Capital in All-Stock Deal Worth More Than $60 Million
Summary
- MoonPay said it will acquire North Capital in an all-stock deal to expand its tokenization business.
- The deal is valued at more than $60 million, and North Capital will become a wholly owned subsidiary of MoonPay after receiving approval from U.S. regulators.
- MoonPay said it is working to build a regulatory foundation for broader adoption of real-world assets (RWA) while expanding into tokenized assets and financial infrastructure.
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MoonPay, a U.S. cryptocurrency payments company, is acquiring North Capital, a U.S. private-market investment platform, to expand its tokenization business.
CoinDesk reported on September 23 that MoonPay had signed an all-stock acquisition agreement with North Capital that day. The deal is valued at more than $60 million.
The acquisition is subject to approval by U.S. regulators. Once completed, North Capital will become a wholly owned subsidiary of MoonPay.
North Capital, based in Utah, provides the technology infrastructure needed for securities tokenization to private securities issuers and fund managers. Its services support fundraising, asset management, clearing, custody and secondary trading.
North Capital is registered with the U.S. Securities and Exchange Commission as a broker-dealer, transfer agent and investment adviser. MoonPay Chief Executive Officer Ivan Soto-Wright said the acquisition is intended to build a regulatory foundation to support broader adoption of real-world assets, or RWAs. Integrating North Capital's capabilities into the MoonPay ecosystem would help connect different parts of the financial system.
MoonPay has recently been expanding beyond its core cryptocurrency payments business into tokenized assets and financial infrastructure. In May, it launched MoonPay Trade, a platform designed to help banks and fintech companies use tokenized assets, decentralized finance, or DeFi, and stablecoins.
