MoonPay Acquires PPEX Private Securities Venue In $8.7 Billion Deal

MoonPay has announced its acquisition of PPEX, an established private-securities trading venue, in a deal carrying a reported valuation of $8.7 billion. The announcement marks a significant expansion for MoonPay, a company best known for its cryptocurrency payment infrastructure, as it moves into the private-securities market. The transaction values PPEX at a level that would make it one of the larger acquisitions in the crypto-fintech space in recent years.

PPEX operates as a dedicated trading venue for private securities, providing a marketplace where shares of privately held companies can be bought and sold. This positions PPEX within the growing private-markets ecosystem, where investors seek liquidity in companies that have not yet gone public. By acquiring PPEX, MoonPay gains access to an operational trading infrastructure rather than building a private-securities venue from scratch.

The acquisition remains subject to regulatory approval, though the specific regulatory bodies involved have not been publicly identified. The timeline for these approvals has not been specified, leaving the closing date uncertain. Until such approvals are granted, MoonPay and PPEX will continue to operate as separate entities.

The deal highlights the ongoing convergence between cryptocurrency infrastructure and traditional private financial markets. MoonPay's move into private securities suggests a strategic bet that the infrastructure used for digital asset trading can be extended to other asset classes.