MoonPay to Acquire North Capital for Onchain Markets

MoonPay is moving deeper into securities infrastructure. The company has entered a definitive merger agreement to acquire North Capital Investment Technology, a private-markets infrastructure platform with API-first technology and regulated brokerage services.

If completed, North Capital will become a wholly owned MoonPay subsidiary, bringing its securities brokerage and investment advisory businesses into MoonPay’s financial infrastructure platform.

MoonPay Targets Private Securities Infrastructure

North Capital already supports issuers, professional intermediaries, fund managers and investors across capital raising, asset management, clearing, custody and secondary trading.

Its infrastructure also covers exempt securities, including tokenized securities. That makes the acquisition particularly relevant to MoonPay’s push toward onchain financial markets.

North Capital’s platform has supported more than $8.7 billion in primary and secondary transaction volume. Its PPEX ATS also has more than 1,250 approved assets available for secondary-market trading.

North Capital Brings Regulated Market Access

This isn’t simply a technology acquisition. North Capital’s operating businesses include SEC-registered broker-dealers, an SEC-registered alternative trading system, an SEC-registered transfer agent and an SEC-registered investment adviser.

PPEX operates as a registered alternative trading system for secondary trading of private and other exempt securities, including digital asset securities.

For MoonPay, that regulated infrastructure could complement its existing platform serving more than 35 million customers across 180 countries and more than 1,500 enterprise clients.

MoonPay Still Needs Regulatory Clearance

The transaction has been unanimously approved by both companies’ boards, but the deal isn’t finished. Required regulatory approvals and other customary closing conditions still need to be satisfied or waived.

MoonPay says the combination is intended to connect fragmented financial infrastructure through more programmable systems. Whether that translates into a broader onchain capital-markets platform now depends on execution and regulatory approval.

For MoonPay and North Capital, the proposed acquisition puts regulated private-market infrastructure directly alongside an existing digital-asset financial platform.