MoonPay Eyes Private Securities Expansion
Crypto payments firm MoonPay has struck a deal to acquire North Capital, a private-markets investment platform based in Utah, in an all-stock transaction valued at more than $60 million.
North Capital’s infrastructure supports broker-dealer operations, an alternative trading system (ATS), transfer agency, and investment advisory services, all registered with the U.S. Securities and Exchange Commission (SEC). This acquisition could allow MoonPay to offer a broader suite of regulated financial products, marking a significant step for a company currently valued at $3.4 billion.
North Capital has supported more than $8.7 billion in transaction volume as of early 2024.
SEC Registration Adds Compliance Firepower
One of the key draws for MoonPay is North Capital’s array of SEC registrations. As reported by cointelegraph.com, North Capital’s affiliates hold licenses as broker-dealers, trading platforms, transfer agents, and investment advisers—each essential for handling regulated securities in the United States. This compliance profile stands out in an industry where regulatory uncertainty often curtails expansion plans.
Yet while these registrations open new doors for MoonPay, the deal still hinges on regulatory approvals before closing.
Utah Firm Bolsters MoonPay’s Reach
North Capital brings more than just regulatory credentials. Based in Midvale (and Salt Lake City), Utah, the company has facilitated roughly $9 billion in primary and secondary transaction volume through its platform. This track record gives MoonPay immediate access to established infrastructure and client relationships in private markets—a contrast to its prior acquisitions this year of DFlow (a Solana-based trading tech provider) and security startup Sodot, both focused on crypto-native technology rather than traditional finance rails.
The headline figure is impressive: $9 billion in transactions suggests scale and operational experience. However, it remains uncertain how quickly MoonPay can integrate these offerings or whether existing North Capital clients will embrace tokenized securities under new ownership.
See Also
Tokenized Assets Meet Traditional Finance
MoonPay has recently launched its Trade platform to connect banks and fintechs with tokenized assets, decentralized finance (DeFi) protocols, and stablecoin liquidity. By acquiring North Capital—whose business spans broker-dealer activities to ATS operations—MoonPay aims to bridge the gap between blockchain-based innovation and established private markets infrastructure.
This convergence could make it easier for institutional investors to gain exposure to digital assets within familiar regulatory frameworks. Still, the integration process will likely face challenges as both companies adapt their technology stacks and compliance procedures.
Next Steps After Board Greenlights
Both boards have signed off on the acquisition; now attention shifts to regulatory reviews and other customary closing conditions. Once finalized, North Capital will become a wholly owned subsidiary of MoonPay—adding another layer to a company already valued at $3.4 billion by Traxcn.
It’s that while MoonPay has made several acquisitions this year alone, this is its first major move into regulated private securities infrastructure in the United States. The deal size—over $60 million—underscores both ambition and risk as crypto firms seek legitimacy through compliance-heavy channels.
The market may be watching for signals about how quickly new products emerge from this combination—or whether regulatory hurdles slow progress. For now, MoonPay’s bet on North Capital marks a concrete shift toward blending crypto-native rails with traditional financial oversight.
What remains unresolved
The acquisition of North Capital by MoonPay, valued at over $60 million in an all-stock deal, remains subject to regulatory approval before North Capital can become a wholly owned subsidiary; if regulators do not grant approval, the transaction cannot close as planned.
