MoonPay acquires crypto security startup Sodot in an all-stock transaction for $100 million.

Odaily Odaily reports that MoonPay has announced the acquisition of Israeli crypto security startup Sodot in a $100 million all-stock transaction. Following the acquisition, Sodot will be integrated into MoonPay's newly formed MoonPay Institutional division. MoonPay Institutional will reportedly provide various cryptocurrency and blockchain services to large traditional financial institutions, including trading, tokenized securities, payments, wallet management, and stablecoin issuance. The division is led by Caroline D. Pham, who joined MoonPay last December as Chief Legal Officer and Chief Administrative Officer. She previously served as Acting Chair of the U.S. Commodity Futures Trading Commission (CFTC). (Bloomberg)