MoonPay has purchased Decent.xyz, a YC-backed cross-chain routing and liquidity company, marking at least its fourth acquisition of the year, according to an announcement on Thursday.
A person familiar with the matter told The Block it was an eight-figure deal.
With the acquisition, MoonPay is launching MoonPay Trade, positioned as an institutional-grade unified API for onchain execution, settlement, conversion, and payments across over 200 chains and protocols.
MoonPay Trade leverages Decent’s proprietary routing algorithms, bridge infrastructure, and liquidity layer, and MoonPay’s existing fiat on-and-off-ramps and compliance infrastructure to provide "one-click" transactions. The tool will also help power MoonPay Institutional’s tokenization efforts.
"Every major financial institution is building a tokenized asset strategy. MoonPay Trade is the execution layer that MoonPay Institutional is built on, giving firms one technology platform to access onchain markets with full compliance," MoonPay Chief Legal Officer and CEO of MoonPay Institutional Caroline D. Pham said in a statement.
