Expanding Tokenized Asset Infrastructure
MoonPay Plans North Capital Acquisition to Expand Regulated Securities Infrastructure
Anonymous
Key Points
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North Capital’s PPEX alternative trading system has more than 1,250 approved assets, in addition to supporting over $8.7 billion in transaction volume.
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North Capital earlier partnered with blockchain company tZero on an initiative to offer tokenized assets through alternative trading systems, providing a direct link to MoonPay’s planned tokenization strategy.
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MoonPay has recently expanded beyond its core crypto-payments business through its Trade platform, which connects banks and fintech companies with tokenized assets, DeFi protocols and stablecoin liquidity.
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The acquisition is part of a broader MoonPay expansion campaign that has also included purchases of key-management company Sodot, trading-infrastructure platform DFlow and AI-finance platform Entendre.
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North Capital’s SEC licenses were reportedly a major factor in MoonPay’s decision to pursue the deal; they could enable MoonPay to help clients issue and manage tokenized stocks either directly on a blockchain or through special-purpose vehicles holding traditional shares.
MoonPay has agreed to acquire North Capital Investment Technology, a private-markets infrastructure provider, in an all-stock deal valued at more than $60 million. The Defiant The acquisition would make North Capital a wholly owned subsidiary and add critical regulated capabilities—including a broker-dealer license, investment advisory services, and custody—to MoonPay's financial platform. North Capital has processed over $8.7 billion in transaction volume and operates PPEX, an alternative trading system with more than 1,250 approved assets.
Why MoonPay Wants North Capital's SEC Licenses
CoinMarketCap reports that North Capital's Securities and Exchange Commission registrations were a major draw for MoonPay. The licenses enable MoonPay to help clients issue and manage tokenized stocks—either directly on blockchains or through special-purpose vehicles holding traditional shares. This is a crucial regulatory moat that crypto companies typically lack.
Building Tokenized Real-World Asset Infrastructure
North Capital previously partnered with blockchain firm tZero to offer tokenized assets through alternative trading systems. PYMNTS notes this deal brings regulated private markets directly into MoonPay's platform. The acquisition supports MoonPay's broader strategy to become a bridge between traditional capital markets and blockchain-based trading.
MoonPay's String of Infrastructure Acquisitions
This deal is part of a larger MoonPay expansion beyond its core crypto-payments business. The company recently launched Trade—a platform connecting banks and fintech firms to tokenized assets and DeFi protocols. CryptoRank reports the company has also acquired key-management firm Sodot, trading platform DFlow, and AI-finance startup Entendre. Each purchase adds a missing piece to MoonPay's vision of onchain private capital markets.
What Happens Next—Regulatory Path Ahead
Tron Weekly confirms the transaction remains subject to regulatory approval and other closing conditions. No timeline has been announced. The deal signals that major crypto firms are no longer building standalone—they're acquiring regulated gatekeepers to legally issue and trade tokenized securities at scale.
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