According to PR Newswire, MoonPay acquired crypto key-management firm Sodot this month in an all-stock deal valued at approximately $100 million, and launched MoonPay Institutional to serve banks, asset managers, trading firms, and exchanges. The new unit is led by Caroline Pham, former acting chair of the Commodity Futures Trading Commission, who joined MoonPay as chief legal officer and chief administrative officer in December. Sodot’s technology will serve as the security foundation for the institutional platform, which will offer self-hosted wallet infrastructure, custody services, and trade execution tools.
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