MoonPay Inc. has acquired Sodot, an Israeli crypto security startup, for approximately $100 million in an all-stock deal to launch a dedicated institutional division. The new MoonPay Institutional unit, led by Caroline D. Pham (formerly CFTC acting chairman and MoonPay’s CLO/CAO), aims to bridge traditional finance with crypto services like trading, tokenized assets, and stablecoin infrastructure.

Pham emphasized that regulatory progress, including U.S. stablecoin rules, and blockchain advancements are driving institutional adoption of decentralized finance (DeFi), though yields have dropped to bond-like levels. The move signals growing confidence in crypto’s long-term viability amid shifting market dynamics.