eToro Wallet Partner Sodot Acquired for $100M as MoonPay Launches Institutional Division
MoonPay acquired Israeli crypto key management firm Sodot in an all-stock deal valuing it at about $100 million and launched MoonPay Institutional for financial firms. Sodot has secured over $50 billion in transactions and protected more than 10 million wallets for clients including eToro, using self-hosted MPC and TEE technology.
1. Acquisition and Division Launch
MoonPay completed an all-stock acquisition of Israeli crypto key management firm Sodot, valuing the business at roughly $100 million. The deal coincides with the launch of MoonPay Institutional, a division led by Caroline D. Pham, aimed at providing digital asset infrastructure solutions to traditional finance institutions.
2. Sodot’s Capabilities and Track Record
Founded in 2023, Sodot’s self-hosted MPC and TEE products have secured over 10 million wallets and processed more than $50 billion in transactions. Major clients include eToro and BitGo, reflecting strong institutional demand for advanced key management and wallet security.
3. Implications for eToro
As a Sodot client, eToro stands to benefit from enhanced custody and key management services integrated into MoonPay’s unified institutional platform. The expanded infrastructure could support eToro’s growth in digital asset trading by offering scalable, secure solutions tailored to financial firms.