Paxos acquires institutional wallet provider in $100 million deal. The move leverages Fordefi’s MPC wallet for a regulated storage framework. DeFi is becoming part of mainstream financial infrastructure.
Paxos, a well-respected blockchain infrastructure company behind multiple stablecoins, confirmed its acquisition in Forderfi late Tuesday.
The companies did not disclose the value of the deal, but sources said it was valued at more than $100 million and reflects one of the most aggressive and strategic expansions in recent years.
The team emphasized:
This strengthens our ability to support institutions with a more flexible and sophisticated digital asset infrastructure.
By the way, Fordefi is a thriving enterprise wallet and custody provider.
The acquisition comes as institutions move to on-chain operations at an unprecedented pace.
Companies considering blockchain technologies such as tokenized assets, complex DeFi strategies, and stablecoin payments are seeking secure, modular storage.
Paxos aims to meet this demand by integrating a compliant custodial infrastructure with Fordefi’s policy-centric MPC (Multi-Party Computation) wallet technology.
Charles Cascarilla, co-founder and CEO of Paxos, commented on the strategic acquisition:
Together, Paxos and Fordefi will provide customers with a world-class custody solution built on advanced wallet technology and regulated and qualified custody. We are excited to welcome Fordefi to the team as we enter this new phase of growth.
Paxos powers enterprise playbooks
Companies entering the blockchain and crypto sectors rely on Paxos for compliant infrastructure and custody.
The company maintains a high-end regulatory model with oversight from MAS in Singapore, NYDFS in the US, FSRA in Abu Dhabi, and FIN-FSA in Europe.
Additionally, its tokenization and stablecoin systems power accounting payments for major companies such as MasterCard, Nubank, PayPal, and Interactive Brokers.
Now, Paxos has integrated Fordefi to provide customers with an integrated platform that supports everything from asset tokenization and issuance to streamlined access to DeFi protocols.
CEO Kaskarijal added:
Fordefi has built a successful stack and customer base based on easy-to-use APIs and seamless Web3 connectivity. Market participants require regulated platform partners to meet a variety of complex storage needs.
Rapidly growing fordefi
Since its launch in 2021, Fordefi has grown into a well-respected institutional wallet provider in the DeFi industry.
This platform has two important features.
First and foremost, Fordefi’s MPC-based addressing model reduces the risk of single points of failure.
Policy engines, on the other hand, allow businesses to handle compliance rules, risk management, and permissions across decentralized and centralized setups.
Fordefi currently secures more than $120 billion in monthly trades and supports nearly 300 companies, including hedge funds, crypto-native companies, and trading desks.
Fordefi CEO Josh Schwartz believes Paxos will strengthen its reach in a way that aligns with its core mission. he said:
Fordefi has built a best-in-class wallet platform trusted by nearly 300 institutions. By joining Paxos, we will be able to bring our technology to an even broader audience, with a focus on security, ease of use, and innovation. Together, we provide enterprises with the integrated custody and stablecoin infrastructure they need to deploy real-world digital asset use cases at scale.
For now, Fordefi will operate independently as Paxos pursues gradual integration.
