Crypto Firm MoonPay Bets $100 Million for Institutional Push

MoonPay Inc. has acquired Sodot, an Israeli crypto security startup, as part of a plan by the crypto payments firm to launch a new unit focused exclusively on catering to institutional demand for digital assets.

The new unit, known as MoonPay Institutional, will connect large traditional financial firms to a variety of crypto and blockchain services, including trading, tokenized securities, payments, wallet management and stablecoin issuance. It’ll be led by Caroline D. Pham, who joined the New York-based firm as its chief legal officer and chief administrative officer in December, after serving as acting chairman of the Commodity Futures ...