MoonPay announced on September 23, 2026 that it has entered into a definitive merger agreement to acquire North Capital Investment Technology, a private-markets infrastructure provider, as the company expands beyond crypto payments into onchain capital markets.
The all-stock transaction is valued at more than $60 million, according to a person familiar with the matter, and will add North Capital’s securities brokerage, investment advisory, and tokenization infrastructure to MoonPay’s platform. Upon completion, North Capital will become a wholly owned MoonPay subsidiary, subject to regulatory approval.
MoonPay CEO Ivan Soto-Wright said all financial markets are becoming more technology-driven, but the infrastructure supporting them remains fragmented across tech stacks, providers, and workflows, particularly in securities markets.
He said MoonPay is building the regulatory foundation to support mass adoption of tokenized real-world assets, and believes bringing North Capital’s capabilities into MoonPay’s ecosystem can connect different parts of the financial system through programmable infrastructure.
North Capital CEO James P. Dowd said the company was founded to bring access, liquidity, and transparency to private markets. MoonPay confirmed the acquisition directly through its official X account, framing the deal as a step toward building the regulatory backbone for tokenized real-world assets:
What North Capital Brings to MoonPay
North Capital, based in Salt Lake City, Utah, is a private-markets investment platform with approximately $9 billion in primary and secondary transaction volume, providing back-end brokerage services and tokenization tools for debt, equity, and other assets.
The firm holds SEC licenses covering broker-dealer transactions, alternative trading system trading, transfer agent services, and investment advisory activity, licenses reportedly a key factor in MoonPay’s decision to acquire it.
| Company | Primary Focus |
| MoonPay | Crypto payments and digital-asset access infrastructure |
| North Capital | Regulated investment and securities infrastructure |
| Combined direction | Tokenized assets and onchain capital markets |
Table 1. Strategic focus of the MoonPay and North Capital acquisition.
North Capital previously partnered with blockchain firm tZero to offer tokenized assets on alternative trading systems, part of the same institutional push toward regulated crypto investment products explored in how BlackRock’s Bitcoin ETF is changing institutional demand.
Why North Capital Matters for Tokenized Markets
The significance is that tokenized securities require more than blockchain technology. While blockchain networks provide digital ownership records and programmable settlement, regulated financial products still need systems for investor eligibility, compliance procedures, securities administration, and transfer controls.
North Capital provides this traditional financial-market layer, letting MoonPay explore products closer to regulated capital markets rather than staying limited to crypto payment access, though no specific products, supported assets, or launch timelines have been announced beyond the pending regulatory approval process.
This Continues a Broader Acquisition Spree
North Capital is not MoonPay’s first purchase this year. Earlier in 2026, MoonPay acquired Solana-based trading infrastructure provider DFlow, security and key-management startup Sodot, and AI finance operations platform Entendre, building out its technical stack layer by layer.
MoonPay’s Trade platform is already live, connecting banks and fintechs to tokenized assets, DeFi protocols, and stablecoin liquidity, with North Capital’s infrastructure fitting directly into that architecture.
The move arrives as competitors including Robinhood and Kraken ramp up similar tokenized-securities offerings, a landscape worth understanding alongside Kraken’s own path toward a public listing.
How the Regulatory Layer Fits Into Tokenization
Tokenization is often described as representing traditional assets on blockchain networks, but creating a digital representation is only one part of the process. Institutions also need systems addressing ownership records, compliance requirements, investor access, custody, and legal frameworks, which is why regulated infrastructure providers have become increasingly important to onchain capital markets.
MoonPay’s strategy reflects this shift, adding capabilities that connect blockchain-based assets with traditional investment processes rather than treating tokenization as purely technical.
What Adoption of Tokenized Markets Still Depends On
The acquisition positions MoonPay closer to institutional digital-asset infrastructure, moving beyond consumer crypto access toward supporting a broader range of financial applications involving tokenized assets.
However, adoption of tokenized capital markets still depends on regulatory approval, investor demand, market liquidity, and integration with existing financial systems, meaning the acquisition provides infrastructure capabilities without guaranteeing tokenized investment products achieve widespread adoption.
What Comes Next for the Acquisition
MoonPay and North Capital will need to complete the acquisition process, which remains subject to regulatory approval, before combining their operations. The companies have not disclosed a specific integration timeline or the tokenized products planned after the deal closes.
What this means for you: MoonPay’s acquisition of North Capital shows how crypto infrastructure companies are moving toward regulated financial markets. The immediate impact for individual users remains limited, but the deal highlights the growing importance of combining blockchain technology with traditional securities infrastructure to support future tokenized investment products.
This article is for informational purposes only and does not constitute financial or investment advice. Tokenized securities, digital assets, and blockchain-based financial products involve regulatory, custody, liquidity, technology, and market risks. Availability of products and services may vary by jurisdiction.
