Former acting CFTC Chairman Caroline Pham will run the new business, which bundles key management, custody, execution, and white-label stablecoin issuance into a single stack.
MoonPay on Wednesday said it has acquired Israeli key management infrastructure firm Sodot and launched MoonPay Institutional, a new business targeting financial institutions, asset managers, trading firms, and exchanges moving into digital assets.
The unit will be led by Caroline D. Pham, the former acting Chairman of the U.S. Commodity Futures Trading Commission, who joined MoonPay as CEO of Moon Global Markets and also serves as the company’s Chief Legal Officer and Chief Administrative Officer.
Sodot, founded in 2023 by Ido Sofer, Shalev Keren, Matan Hamilis, and Elichai Turkel, builds self-hosted multi-party computation (MPC) and trusted execution environment (TEE) products for managing private keys and API credentials. The company says its platform has secured more than $50 billion in transactions and protected over 10 million wallets.
The full Sodot team, technology, and customer base are moving over, and MoonPay said it intends to expand the company’s Israeli operations.
Institutional Stack
MoonPay Institutional combines wallet infrastructure and key management built on Sodot’s MPC and TEE stack, custody through MoonPay Trust Company (a New York Limited Purpose Trust Company regulated by the NYDFS), a Crypto API Vault for managing exchange and venue credentials, on-chain trade execution and cross-chain collateral mobility, and aggregated OTC and DeFi liquidity across Ethereum, Solana, Base, Arbitrum, BSC, Hyperliquid, Uniswap, and what MoonPay describes as more than 200 additional networks and protocols.
The stablecoin and payments layer offers white-label issuance, reserve management, and cross-border settlement in over 120 fiat currencies, with existing integrations spanning PayPal, Paysafe, and Deel. MoonPay’s payments network reaches over 7,500 merchants, wallets, and apps and an estimated 100 million users, building on a string of recent moves, including its acquisition of stablecoin infrastructure firm Iron in March 2025, the USDT Mastercard launch with Tether, and the PYUSDx app-specific stablecoin platform with M0.
“We built MoonPay to be the world’s leading crypto payments network. Our institutional arm is the next stage, and together with Sodot’s infrastructure, it will allow us to bring this platform to financial services firms now entering the digital asset space,” said CEO and founder Ivan Soto-Wright in a press release.
Demand for Infrastructure
MoonPay framed the launch against a sharp pickup in institutional demand for digital asset infrastructure.
Citing Federal Reserve research, the company said stablecoin transaction volume reached $33 trillion in 2025, with Q1 2026 alone topping $28 trillion, and total stablecoin market capitalization has crossed $317 billion, up more than 50% since early 2025.
It also pointed to Nomura Securities data showing that more than two-thirds of institutional investors now want exposure to DeFi yields, and to a Goldman Sachs survey indicating that 71% of institutional asset managers plan to increase digital asset exposure over the next 12 months.
This article was written with the assistance of AI workflows. All our stories are curated, edited and fact-checked by a human.
Source: https://thedefiant.io/news/defi/moonpay-folds-sodot-into-new-institutional-platform
