According to Bloomberg, the transaction occurred this month through a stock swap, valuing the deal at $100 million. Following the acquisition of the Israeli cryptocurrency security infrastructure provider, MoonPay is launching a division to work with institutional clients. They intend to connect major traditional financial companies with blockchain services. MoonPay Institutional will offer them access to trading, tokenized securities, payments, wallet management, and stablecoin issuance. The division will be led by former CFTC chair Caroline Pham. She stated that increased regulatory clarity and blockchain security are making it comfortable for institutions to engage with new areas, including DeFi.