MoonPay expands into onchain capital markets
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- MoonPay has agreed to acquire North Capital in a proposed merger.
- North Capital has supported more than $8.7 billion in primary and secondary transaction volume.
- The deal would add regulated brokerage, custody, advisory and alternative-trading capabilities.
MoonPay Inc has agreed to acquire North Capital Investment Technology Inc in a proposed merger.
North Capital provides technology for private securities, including investor onboarding, custody, clearing and secondary trading.
“We believe bringing those capabilities into the MoonPay ecosystem can help connect different parts of the financial system through modern, programmable infrastructure,” according to MoonPay CEO and Founder Ivan Soto-Wright.
North Capital’s platform has supported more than $8.7 billion in primary and secondary transaction volume.
“North Capital was founded with the mission to bring access, liquidity and transparency to private markets,” according to North Capital Founder and CEO James P. Dowd.
The acquisition would add SEC-registered broker-dealers, an alternative trading system and an investment adviser.
PPEX, North Capital’s alternative trading system, has more than 1,250 approved assets available for secondary-market trading.
The transaction remains subject to regulatory approvals and other customary closing conditions before North Capital becomes MoonPay’s wholly owned subsidiary.
