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Paxos Acquires Crypto Wallet Provider Fordefi for Over $100 Million

Paxos Acquires Crypto Wallet Provider Fordefi for Over $100 Million

Author:

Global Cryptocurrency

Published:

2025-11-26 03:19:02

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BTCCSquare news:

Paxos, a blockchain infrastructure firm, has acquired institutional wallet provider Fordefi in a deal reportedly exceeding $100 million. The acquisition merges Paxos' regulated custody platform with Fordefi's multi-party computation wallet technology, targeting institutional demand for secure on-chain access.

Fordefi, founded in 2021, serves approximately 300 clients and was last valued at $83 million. Paxos, known for issuing PayPal's PYUSD stablecoin and serving major institutions like Mastercard, signals a strategic push into decentralized finance with this move.

"Market participants require a regulated platform partner that meets their range of complex custody needs," said Paxos CEO Charles Cascarilla. The deal underscores growing institutional interest in DeFi, a sector once avoided by traditional finance players.

By:

CFTC Launches Crypto Innovation Council Amid Regulatory Expansion

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