Paxos Acquires Fordefi in $100M DeFi Wallet Play
Paxos has secured its position in decentralized finance with a nine-figure acquisition of institutional wallet provider Fordefi. The deal, finalized November 25, brings MPC security infrastructure to Paxos' regulated DeFi offerings.
The strategic MOVE addresses growing institutional demand for secure on-ramps to decentralized protocols. Fordefi's technology stack will be integrated gradually, enhancing Paxos' existing custody solutions with multi-party computation safeguards.
"This isn't about chasing hype—it's about building rails," said Paxos CEO Charles Cascarilla, emphasizing the firm's focus on compliant infrastructure rather than speculative assets. The acquisition follows Paxos' expansion into tokenized commodities and blockchain settlement services.
