MoonPay has signed a definitive merger agreement to acquire private market technology and regulated brokerage services platform North Capital Investment Technology in an all-stock deal valued at more than $60 million, according to the report. According to Odaily, North Capital will become a wholly owned subsidiary of MoonPay after the transaction closes.

The deal will add North Capital's securities brokerage, investment advisory, and clearing capabilities to MoonPay's global infrastructure. North Capital owns several SEC-registered entities, including a broker-dealer, the alternative trading system PPEX ATS, a transfer agent, and an investment adviser.

North Capital provides technology, custody, custodial account, and secondary trading services to private securities issuers, fund managers, and institutional investors. Its platform has facilitated more than $8.7 billion in primary and secondary transactions, and PPEX supports secondary trading for more than 1,250 approved assets. The transaction has been unanimously approved by both boards and still requires customary closing conditions and regulatory approval.