The deal is designed to give MoonPay immediate access to North Capital’s technology, regulatory capabilities and market infrastructure, rather than building those functions from scratch, the company said in its announcement.
Ivan Soto‑Wright, MoonPay’s founder and chief executive, said that while financial markets are becoming increasingly technology‑driven, the underlying infrastructure remains fragmented across disparate tech stacks and providers, especially in securities markets where North Capital has a differentiated offering.
North Capital’s platform supports capital raising, asset management, clearing, custody and secondary trading for exempt and tokenized securities. It provides investor onboarding tools, transaction processing, subscription escrow and operates the PPEX alternative trading system, which has facilitated more than $8.7 billion in primary and secondary transaction volume and lists over 1,250 approved assets for secondary trading.
Upon closing, North Capital will become a wholly‑owned subsidiary of MoonPay, adding its broker‑dealer, alternative trading system, transfer‑agent and investment‑adviser businesses—each registered with the U.S. Securities and Exchange Commission—to MoonPay’s ecosystem.
The acquisition follows MoonPay’s purchase of Rhythm, an on‑chain trading‑signals platform, less than two weeks earlier, and continues a series of deals the company has made in the past two years, including Glide (July), Entendre (June) and the research lab Dawn Labs and trading‑infrastructure platform DFlow (both May).
MoonPay says the integration of North Capital’s capabilities will help close the gap between private‑market assets and on‑chain rails, supporting what it calls the “regulatory foundation to support mass adoption of tokenized real‑world assets.”