MoonPay to acquire North Capital, adding SEC-registered PPEX ATS for tokenized securities
By Crypto Wire
September 27, 2026
MoonPay said on September 23, 2026 that it signed a definitive merger agreement to acquire North Capital Investment Technology, a Utah-based private-markets infrastructure platform whose affiliates hold SEC registrations spanning broker-dealer, transfer agent, investment adviser, and the PPEX alternative trading system—bringing regulated rails for exempt and tokenized securities into a crypto payments stack that already moves fiat and digital assets. MoonPay’s newsroom and the matching PR Newswire release say North Capital becomes a wholly owned subsidiary once the deal closes, subject to regulatory approvals and customary closing conditions. CoinDesk, citing people familiar with the matter, put the all-stock consideration above $60 million; MoonPay’s own release did not publish a purchase price. Attribute the price figure to CoinDesk’s sources, not to a confirmed MoonPay filing.
Why an NFT desk cares. Tokenized collectibles, vaulted cards, and GameFi settlement already lean on the same fiat-on, stablecoin, and brokerage plumbing retail wallets use every day. When a payments company buys an SEC-registered ATS that already lists more than 1,250 approved assets for secondary trading and claims more than $8.7 billion in primary and secondary transaction volume, the story is marketplace infrastructure—not another PFP floor reprint. Treat those volume and listing counts as MoonPay/North Capital attributions.
What North Capital actually sells. Per MoonPay, the platform combines API-first technology with regulated brokerage services covering capital raising, asset management, clearing, custody, subscription escrow, investor onboarding, and secondary trading for exempt securities, including tokenized securities. North Capital Private Securities Corporation operates PPEX ATS, described as an SEC-registered alternative trading system for private and other exempt securities and registered unlisted securities, including digital asset securities. Once closed, MoonPay says those brokerage and advisory businesses join its global financial infrastructure platform. Do not invent that PPEX is already live for every MoonPay retail user today.
How executives framed it. MoonPay CEO and founder Ivan Soto-Wright said financial-market infrastructure is still fragmented across tech stacks and workflows, especially in securities markets, and that MoonPay is “building the regulatory foundation to support mass adoption of tokenized real world assets.” North Capital founder and CEO James P. Dowd, in remarks carried by secondary desks covering the release, cast the combination as extending private-market access through modern infrastructure. Stick to attributed quotes; do not invent additional color.
Regulatory backdrop without rehashing prior LNs. The Federal Reserve’s GENIUS Act stablecoin proposals and CFTC prerules already sit on the desk as LN 9690 / 9794 and LN 9638. Today’s unused angle is MoonPay buying a registered private-markets stack—not another Fed comment-period wrap. Separately, NYSE’s exploratory distribution talks with Blockchain.com for tokenized listed equities remain a different thread; this post stays on the MoonPay–North Capital merger agreement.
What still has to happen. Boards approved the deal, MoonPay says, but completion still needs regulatory approvals and customary closing conditions. Neither firm published a hard close date or a menu of MoonPay consumer products that will immediately route onto PPEX. Ledger Insights noted North Capital’s Agora routing work with fellow ATS tZERO as an open governance question once one founding venue sits inside a vertically integrated payments group—report that as secondary analysis, not as a confirmed shutdown of Agora.
Watchlist check for this tick. Bitget’s BTC reopen and Gracy Chen AMA are still September 28 calendar items, not new last-6h primary facts. Alpenglow feature activation remains tomorrow’s Anza window. MiCA closes September 30. No fresh THORChain/Wasabi hop, Polymarket filing, Sky Mavis Axie Classic winner post, or Off The Grid launch confirm cleared the unused bar—so this slot takes a normal unused LN after widening slightly past the quiet six-hour window.
Rejected near-echos. Ethena whale 0xd0A4 withdrawing 18.34M ENA is already LN 9804. Clearing House × Quant is LN 9866. Collector Crypt CARDS unlock is LN 9815. Vitalik’s cryptographic world computer post is LN 9826. Limit Break / Magic Eden reclaim chapters are LN 9709–9761. This fills Marketplace Watch desk 58 with the unused MoonPay–North Capital agreement.
Why Marketplace Watch 58 plus Latest News 16 (no Editor’s Pick — Sep 27 OC EP already 5/5). A payments marketplace buying SEC-registered private-securities trading and custody rails is unused marketplace-infrastructure tape, and desk 58 remains among today’s least-used standout categories. Author is Crypto Wire for desk 58. Publicize stays off.
What not to invent: that the acquisition has already closed, that every MoonPay user can trade PPEX listings today, that the $60 million-plus figure is an official MoonPay disclosure, independent confirmation of every North Capital registration status beyond the companies’ statements, or that NFT floors must reprice with the announcement. Stick to MoonPay / PR Newswire / CoinDesk attributions for the agreement, ATS metrics, and reported consideration.
Bottom line: MoonPay agrees to acquire North Capital and its SEC-registered PPEX ATS—unused Marketplace Watch news filling Sep 27 OC desk 58.
Disclaimer: This article is provided for informational and educational purposes only. It does not constitute financial, investment, legal, or trading advice. The NFT market is highly volatile, and past performance is not indicative of future results. Readers should conduct their own research and consult qualified professionals before making any decisions related to digital assets. The cover image for this article may have been created using artificial intelligence (AI).
