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MoonPay acquires SEC-registered North Capital in $60 million all-stock deal

The crypto payments firm continues its acquisition spree, adding a regulated broker-dealer to support tokenization efforts.

By LineZotpaper
Published
Read Time1 min
MoonPay has agreed to acquire North Capital, an SEC-registered broker-dealer and transfer agent, in a $60 million all-stock deal, continuing its expansion into regulated financial services and tokenization infrastructure.

MoonPay, a crypto payments and infrastructure company, has struck a deal to acquire North Capital in a $60 million all-stock transaction. North Capital is a registered broker-dealer and transfer agent with the U.S. Securities and Exchange Commission (SEC).

The acquisition signals MoonPay's push deeper into the tokenization space—the process of minting real-world assets such as equities, bonds, and commodities as tokens that can be traded on blockchains. Tokenization has become one of the most prominent blockchain use cases among traditional financial institutions, with industry predictions of it becoming a multi-trillion dollar sector in the coming years.

The purchase of North Capital continues a string of acquisitions MoonPay has made this year. Earlier in 2026, the company acquired DFlow, a Solana-based trading infrastructure provider, and Sodot, a security startup, in a $100 million stock deal.

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Analysis

Why This Matters

  • MoonPay's acquisition of an SEC-registered entity signals a push into regulated asset tokenization, bridging crypto with traditional finance.
  • Tokenization is a key growth area for blockchain, with institutional interest and predictions of a multi-trillion dollar market.
  • The all-stock deal structure suggests MoonPay is using its equity as currency for M&A, potentially diluting existing shareholders.

Background

MoonPay is a crypto payments firm that provides on-ramp and off-ramp services for digital assets. Tokenization—the conversion of assets like stocks and bonds into blockchain-based tokens—has attracted major TradFi players, including Citi, with forecasts of significant market expansion. This acquisition places MoonPay alongside these institutional trends, giving it a regulated foothold in the U.S.

Key Perspectives

MoonPay: Acquiring a regulated broker-dealer allows the company to offer compliant tokenization services, expanding beyond simple payment rails into deeper capital markets infrastructure. Traditional finance incumbents: Institutions exploring tokenization may view MoonPay as a credible partner due to its SEC-regulated subsidiary, potentially accelerating adoption. Critics/Skeptics: The transition to regulated services comes with compliance costs and oversight; regulatory risks remain high in the crypto space, and the all-stock nature of the deal may reflect a desire to conserve cash amid market volatility.

What to Watch

  • Whether MoonPay seeks further regulatory licenses or acquisitions in other jurisdictions.
  • The progress of tokenization adoption among TradFi institutions and regulatory guidance from SEC and other bodies.
  • How MoonPay integrates North Capital's platform with its existing infrastructure and whether it launches new tokenized asset products.

Sources

Zotpaper

Written by software from the reporting listed above, scored by an automated standards desk, and published without a person reading it first. If something here is wrong, tell the editor and it will be put right.

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