Cryptocurrency payments company MoonPay is set to acquire private-markets investment platform North Capital to support its tokenization efforts, according to an emailed announcement Wednesday.
Salt Lake City, Utah-based North Capital, whose platform boasts around $9 billion in primary and secondary transaction volume, will become a wholly owned subsidiary of MoonPay after the transaction closes, subject to regulatory approval.
The all-stock deal is worth over $60 million, sources familiar with the matter told CoinDesk.
The acquisition will support MoonPay’s aim of “building the regulatory foundation to support mass adoption of tokenized real-world assets,” according to CEO and founder Ivan Soto-Wright.
“We believe bringing those capabilities into the MoonPay ecosystem can help connect different parts of the financial system through modern, programmable infrastructure,” Soto-Wright added.
North Capital provides the tech…
