MoonPay to Acquire North Capital for Private Securities Trading

CryptoSlate reports that MoonPay has signed a definitive agreement to acquire North Capital Investment Technology. Both companies’ boards approved the transaction, which was announced on Sept. 23. The purchase is contingent on regulatory clearance and other standard closing conditions. Upon completion, North Capital’s regulated venue for private securities would be integrated into the MoonPay group.

North Capital operates PPEX, an alternative trading system designed for secondary transactions in private and exempt securities. The SEC added the firm and PPEX to its ATS registry on June 30, before this proposed deal. The company also offers brokerage, custody, and investment-advisory services to issuers and investors in private securities.

The announcement did not specify a purchase price or a firm closing date. Representatives from both firms cautioned that there is no guarantee the transaction will close. If it does, a separate announcement will detail which securities are offered, the entity involved, and the eligible investors. This move integrates an operating securities venue with MoonPay’s current systems for facilitating transfers between traditional and digital money.