The deal is intended to bring North Capital’s regulated private‑markets capabilities directly onto MoonPay’s platform, avoiding the need for MoonPay to build the infrastructure from scratch, the company said in its announcement.
“All financial markets are becoming more technology‑driven, but the infrastructure supporting them is still fragmented across different tech stacks, providers, and workflows,” said Ivan Soto‑Wright, MoonPay’s founder and CEO. “This is especially true in securities markets, where North Capital has developed a differentiated combination of technology, regulatory capabilities, and market infrastructure.”
North Capital’s platform supports capital raising, asset management, clearing, custody and secondary trading for exempt securities, including tokenized securities, through tools such as investor onboarding, transaction processing, subscription escrow and its PPEX alternative trading system. The platform has processed more than $8.7 billion in primary and secondary transaction volume, and PPEX 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—all registered with the U.S. Securities and Exchange Commission—to MoonPay’s ecosystem.
The acquisition follows a flurry of deals by MoonPay in the past two years, including the purchase of Rhythm, an on‑chain trading‑signals platform, in early September, as well as Glide (July), Entendre (June) and the research lab Dawn Labs and Solana‑based trading infrastructure DFlow (both in May).
MoonPay says the integration will help close the gap between private‑market assets and on‑chain rails, creating a “regulatory foundation to support mass adoption of tokenized real‑world assets” and linking disparate parts of the financial system through modern, programmable infrastructure.