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FollowingMoonPay signed a final merger agreement to acquire North Capital to lay out tokenized securities
MoonPay has signed a final merger agreement to formally acquire cryptocurrency payment company North Capital Investment Technology. The deal, announced on September 23, aims to integrate a US-registered securities brokerage and consulting business into its financial infrastructure platform. After the transaction is completed, Salt Lake City-based North Capital will become a wholly-owned subsidiary of MoonPay, a move that clearly points to promoting the listing of tokenized securities and other exempt assets.
North Capital's core strengths
North Capital operates an API-first private equity market infrastructure platform serving private equity issuers, professional intermediaries, fund managers and investors. The platform supports functions such as financing, asset management, clearing, custody and secondary market trading of exempt securities (including tokenized securities). Currently, the company's platform has processed more than US$8.7 billion in primary and secondary market transactions, and its PPEX alternative trading system lists more than 1,250 approved assets for secondary market transactions. In addition, North Capital Private Securities Corporation and North Capital Agency Brokerage are both broker-dealers registered with the SEC and are member institutions of FINRA and SIPC.
The compliance path to the tokenization market
The acquisition adds a series of U.S. securities regulatory registrations to MoonPay's platform, including an SEC-registered alternative trading system, a transfer agent and an investment advisory firm. For MoonPay, which was founded in 2019 and is known for its cryptocurrency payments, the acquisition marks its strategic intention to expand into regulated capital markets. MoonPay currently serves more than 35 million customers and more than 1,500 corporate customers in 180 countries, and the move also extends its previous tokenization fund project with WisdomTree.
Management's explanation of strategic logic
Ivan Soto-Wright, CEO and founder of MoonPay, said: "All financial markets are increasingly driven by technology, but the infrastructure that underpins them is still scattered across different technology stacks, providers and workflows." He added: "This is particularly true in securities markets, and North Capital has developed a unique combination of technology, regulatory capabilities and market infrastructure." James P. Dowd, founder and CEO of North Capital, said the merger furthers the company's mission to bring "access, liquidity and transparency into the private equity market."
Follow-up progress
两家公司的董事会已一致批准该交易，但交易的最终完成仍取决于监管批准及其他惯例条件。此次收购紧随一系列类似交易之后，旨在推动证券上链，其中包括 Ondo Finance 收购 Oasis Pro。随着加密货币公司竞相获取代币化证券所需的经纪交易商牌照，行业内的整合步伐正在加快。
