MoonPay Acquires North Capital for US Securities Licenses

MoonPay is acquiring North Capital, a Utah broker that has facilitated private stock deals since 1999. The acquisition, announced Wednesday, aims to secure US securities licenses that MoonPay has previously borrowed from partners. Terms of the deal were not disclosed and it requires regulatory approval before completion. North Capital operates two SEC-registered broker-dealers, a registered transfer agent, an investment adviser, and PPEX, an alternative trading system for private securities with over 1250 approved assets. Its platform has processed 8.7 billion dollars in primary raises and secondary trades. This acquisition addresses MoonPay's lack of a US broker-dealer, allowing it to legally sell tokenized shares to American investors. The purchase aligns with MoonPay's strategy, following its 100 million dollar stock purchase of Solana router DFlow in May. North Capital will enable MoonPay to offer real securities, as opposed to synthetic trackers, to its users. The deal supports Reg CF and Reg A+ offerings, allowing non-accredited investors access to private shares, while accredited-only Reg D deals will remain restricted. The demand for private securities remains uncertain, as 35 million crypto buyers may not transition to private-market investors.

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