@MoonPay has announced it is acquiring @norcap (North Capital), a Utah-based private markets infrastructure firm, in an all-stock deal valued at more than $60 million, marking one of the cryp
@MoonPay has announced it is acquiring @norcap (North Capital), a Utah-based private markets infrastructure firm, in an all-stock deal valued at more than $60 million, marking one of the crypto payments company's most significant moves yet into regulated securities territory.
North Capital is no ordinary fintech. The firm provides the full technology stack for private securities transactions, covering capital raising, asset management, clearing, custody, and secondary trading. Its affiliates hold a range of SEC registrations, including broker-dealer, alternative trading system (ATS), transfer agent, and investment advisory licences. The company's API-first platform has helped execute more than $8.7 billion in trades. North Capital has also been active in the tokenized securities space since 2017, building regulated infrastructure for digital asset securities through its PPEX ATS, one of the first alternative trading systems approved for digital asset securities in the US.
This acquisition fits a clear pattern. MoonPay has been on an aggressive deal-making run in 2026, having previously acquired trading infrastructure platform DFlow, AI finance operations platform Entendre, and key management company Sodot. The North Capital deal, however, is strategically different: it gives MoonPay direct access to the regulatory licences and compliance infrastructure needed to participate in the tokenized private equity and securities markets, not just facilitate crypto payments.
MoonPay CEO Ivan Soto-Wright has framed the move as central to the company's goal of driving mass adoption of tokenized real-world assets (RWAs). North Capital will become a wholly owned MoonPay subsidiary once the transaction closes, subject to regulatory approvals. The deal signals that MoonPay is positioning itself less as a crypto on-ramp and more as a regulated bridge between traditional finance and on-chain markets.
Sources:CoinDesk: MoonPay to acquire SEC-registered North Capital in $60 million all-stock dealFortune: MoonPay acquires brokerage firm North Capital for $60 millionCoinTelegraph: MoonPay Buys North Capital to Expand RWA Push
