MoonPay has entered into a definitive merger agreement to acquire North Capital Investment Technology, a private markets infrastructure company whose platform has supported more than $8.7 billion in primary and secondary securities transactions. The proposed acquisition would combine North Capital’s regulated brokerage and investment advisory businesses with MoonPay’s global financial infrastructure platform, supporting the company’s expansion into tokenized securities and onchain capital markets. Financial terms were not disclosed.
Upon completion of the transaction, North Capital will become a wholly owned subsidiary of MoonPay. The acquisition is expected to strengthen MoonPay’s ability to connect traditional financial markets with blockchain-based infrastructure while providing additional regulated capabilities for issuers, financial intermediaries, fund managers, and investors.
North Capital provides an API-first technology platform alongside regulated financial services covering capital raising, asset management, clearing, custody, and secondary trading. Its capabilities include investor onboarding, transaction processing, subscription escrow, and custody arrangements for private and other exempt securities, including tokenized securities.
A central component of the transaction is PPEX ATS, North Capital’s SEC-registered alternative trading system, which has more than 1,250 approved assets available for secondary-market trading.
North Capital’s operating businesses also include SEC-registered broker-dealers, a registered transfer agent, and a registered investment adviser. North Capital Private Securities Corporation operates PPEX and provides agency brokerage, clearing, and carrying services.
These businesses would expand MoonPay’s regulatory and technological capabilities as it develops infrastructure for tokenized real-world assets. The combination is intended to address fragmentation across existing securities market technology, service providers, and transaction workflows.
The acquisition also provides an opportunity to connect North Capital’s private markets infrastructure with MoonPay’s existing payments, trading, commerce, and stablecoin services. MoonPay’s broader strategy focuses on developing technology that enables money and financial assets to move between conventional payment networks and blockchain-based systems.
Founded in 2019, MoonPay serves more than 35 million customers across 180 countries and over 1,500 enterprise clients in the cryptocurrency and financial technology industries. The company maintains regulatory licenses and authorizations in multiple jurisdictions, including the United States and European Union.
For North Capital, the transaction offers an opportunity to expand the reach of its private markets technology while continuing to provide services to existing issuers, intermediaries, and investors.
The companies’ boards of directors have unanimously approved the proposed transaction. Completion remains subject to required regulatory approvals and other customary closing conditions.
KEY QUOTES:
“All financial markets are becoming more technology-driven, but the infrastructure supporting them is still fragmented across different tech stacks, providers, and workflows. This is especially true in securities markets, where North Capital has developed a differentiated combination of technology, regulatory capabilities and market infrastructure. At MoonPay, we’re building the regulatory foundation to support mass adoption of tokenized real-world assets. We believe bringing those capabilities into the MoonPay ecosystem can help connect different parts of the financial system through modern, programmable infrastructure.”
Ivan Soto-Wright, CEO and Founder of MoonPay
“North Capital was founded with the mission to bring access, liquidity and transparency to private markets, and these goals are best accomplished through better technology, resilient infrastructure and a more seamless experience for issuers, intermediaries and investors. MoonPay has built a global financial technology platform with significant reach and has articulated an ambitious vision for the future of value transfers across financial markets. We see a compelling opportunity to combine our teams and capabilities while continuing to support the clients and partners who have helped build North Capital.”
James P. Dowd, Founder and CEO of North Capital
