Skip to content
- MoonPay acquires Decent.xyz to strengthen institutional blockchain trading infrastructure services.
- MoonPay Trade expands liquidity access across more than 200 blockchain networks.
- Institutional tokenization demand pushes MoonPay deeper into crypto infrastructure expansion efforts.
In an eight-figure transaction aimed at growing crypto infrastructure services, MoonPay beefed up its institutional blockchain strategy by acquiring Decent.xyz. The company revealed the transaction in the announcement of the new platform to serve institutional onchain execution and settlement, MoonPay Trade.
Also Read: Dormant Bitcoin Whale Moves 500 BTC as Quantum Fears Shake Investors
MoonPay Trade Targets Institutional Blockchain Infrastructure
MoonPay Trade will offer support for over 200 blockchain networks and protocols so they could access liquidity, pay, offer conversion services, and execute transactions. The platform connects with Decent.xyz’s routing technology and liquidity infrastructure to MoonPay’s compliance solutions and fiat payment services. For the institutional buyers, the trading structure is simplified, so that they can easily join the trading market of blockchain.
According to Caroline D. Pham, CEO of MoonPay Institutional, the deal was made to support the increasing institutionalization of tokens. The strategies that major financial institutions are working on are still in their early stages of development, with many seeking compliant infrastructure to provide settlement and execution capabilities on the blockchain, Pham said.
Furthermore, the purchase signals MoonPay’s bigger move to step beyond the shopping-centered cryptocurrency payment providers. The company already offers onramps for fiat, payment systems, and solutions for key-management in crypto. Today, MoonPay also manages cross-chain liquidity and routing infrastructure systems via Decent.xyz.
MoonPay’s latest acquisition, Decent.xyz, is just its fourth major investment so far this year, as the competitive landscape of institutional crypto infrastructure services continues to expand. The company had acquired cryptocurrency key management company Sodot earlier this year, as well as AI trading platform Dawn and trading platform DFlow, which is based on Solana.
Additionally, the moves facilitated MoonPay Institutional’s relaunch in April. The division is committed to enterprise blockchain services for financial institutions who are on the path of tokenized assets and digital settlement systems. At the same time, consolidation is rapidly ongoing across the crypto infrastructure industry. Earlier this week, a bit more recently, another deal in the space was reached when Blocknative, a blockchain infrastructure company, joined the ranks of Deloitte.
The Decent.xyz team has been completely reshaped prior to MoonPay. Founded in 2021, the company initially operated as a music NFT project before shifting toward chain abstraction and cross-chain liquidity infrastructure. Eventually, Decent.xyz caught the eye of MoonPay’s institutional growth initiative.
Crypto Infrastructure Competition Continues Growing
Moreover, MoonPay’s recent set of mergers show that it’s not just about consumer cryptocurrency services, but that the company is looking to exert greater influence in the institutional blockchain space as well. Financial companies are increasingly looking for infrastructure that enables them to adopt blockchain efficiently and adheres to compliance requirements.
In conclusion, MoonPay’s acquisition is a testament to the increased competition within the crypto infrastructure sector aiming to win over institutional blockchain adoption. As the number of tokenized financial products expands and spreads throughout the world, infrastructure providers are stepping up to make access to digital asset markets simpler.
Also Read: Hyperliquid’s SpaceX Exposure Pushes HYPE Within Reach of New Record
