MoonPay to Acquire North Capital in All-Stock Deal Exceeding $60M

MoonPay has agreed to acquire North Capital in an all-stock deal valued at more than $60 million, pushing the crypto payments firm deeper into regulated US securities infrastructure. The acquisition is designed to support MoonPay’s broader push into tokenized real-world assets (RWAs), particularly private-market securities. According to MoonPay’s announcement shared with Cointelegraph, the deal would enable the company to move into functions such as issuance, custody, and secondary trading of private securities, including tokenized securities. North Capital operates broker-dealer, alternative trading system (ATS), transfer agent, and investment adviser businesses—all registered with the US Securities and Exchange Commission. Key takeaways MoonPay will pay for North Capital with an all-stock transaction worth more than $60 million, according to a person familiar with the matter cited by Cointelegraph. The target brings SEC-registered broker-dealer, ATS, transfer agent, and investment adviser capabilities, aligning the acquisition with MoonPay’s RWA strategy. North Capital reports having supported more than $8.7 billion in primary and secondary transaction volume. The companies’ boards have approved the deal, which remains subject to regulatory approvals and customary closing conditions. Why MoonPay’s move matters for tokenized securities Tokenized RWAs have long faced a practical bottleneck: getting “onchain” products to connect with traditional capital markets functions such as custody, issuance workflows, and compliant secondary trading. MoonPay’s planned acquisition of North Capital is framed as an effort to bridge those components through “modern, programmable infrastructure,” as MoonPay CEO Ivan Soto-Wright said in the company’s statement shared with Cointelegraph. For investors and market participants, the significance is less about a new headline promise and more about operational capabilities. North Capital’s existing regulatory footprint—covering broker-dealers and an ATS as well as transfer agent and investment adviser roles—suggests MoonPay could attempt to formalize end-to-end rails for private securities. That is particularly relevant for tokenized private market assets, where settlement, custody, and trading controls are typically expected to fit within established compliance frameworks. North Capital’s infrastructure and reported scale North Capital, based in Midvale, Utah, provides multiple lines of securities-market infrastructure. The company’s portfolio includes broker-dealers and an alternative trading system (ATS), along with services such as a transfer agent and an investment adviser, all registered with the US Securities and Exchange Commission. In its announcement, MoonPay said North Capital has supported more than $8.7 billion in primary and secondary transaction volume. While that figure does not, by itself, indicate what portion would be tied to tokenized assets after the acquisition, it does provide a baseline for the business’s market activity and indicates established relationships and operational readiness in US private securities workflows. Under the terms described, North Capital will become a wholly owned MoonPay subsidiary after the transaction closes. Both companies’ boards approved the acquisition, and the deal is still subject to regulatory approvals and other customary closing conditions.