MoonPay has entered a definitive agreement to acquire North Capital Investment Technology, expanding from cryptocurrency payment infrastructure into regulated private securities and tokenized capital markets.
North Capital will become a wholly owned MoonPay subsidiary after required approvals. CoinDesk valued the all-stock transaction at more than $60 million, based on sources familiar with the agreement.
The target operates infrastructure for capital raising, investor onboarding, escrow, custody and secondary trading. Its affiliated businesses include SEC-registered broker-dealers, an investment adviser, a transfer agent and PPEX, a registered alternative trading system.
North Capital says its platform has supported more than $8.7 billion in primary and secondary transaction volume. PPEX has approximately 1,250 approved assets available for secondary trading, according to the companies’ September 23 announcement.
MoonPay has been expanding beyond consumer payment ramps. It previously acquired Solana trading-infrastructure provider DFlow and security company Sodot and launched a platform connecting banks and fintech companies with tokenized assets, stablecoin liquidity and decentralized-finance protocols.
The acquisition remains subject to regulatory approval and standard closing conditions. SEC registration does not mean the regulator has endorsed MoonPay, North Capital or any tokenized security.
TOKEN RECON ASSESSMENT
MoonPay is assembling the regulated components required to distribute securities, not merely cryptocurrency.
North Capital brings licenses and operational infrastructure that would be time-consuming to reproduce internally. The strategic test is whether MoonPay can connect those entities with its existing global payment distribution without compromising securities compliance.
Watch regulatory approval, transaction closing, issuer adoption, supported tokenized assets and whether PPEX develops meaningful secondary liquidity.
Sources
MoonPay and North Capital: Definitive acquisition agreement
