Paxos acquired Fordefi, a wallet provider, for over $100 million. The acquisition enhances Paxos’ regulated custody solutions with Fordefi’s wallet technology and API-driven DeFi connectivity. Paxos, a regulated blockchain infrastructure provider and stablecoin issuer, has acquired Fordefi, an institutional MPC wallet provider, for over $100 million.
The move is part of Paxos’ effort to expand its custody and wallet capabilities for institutional clients. The deal allows Paxos to enhance its regulated custody platform by integrating Fordefi’s MPC wallet technology, policy engine, and DeFi connectivity. Paxos issues PayPal USD (PYUSD), Pax Dollar (USDP), and Pax Gold (PAXG), among other regulated digital assets.
The acquisition supports Paxos’ strategy to offer enterprises a unified, secure, and compliant infrastructure for tokenization, stablecoin issuance, and on-chain financial operations. FORDEFI WILL INITIALLY KEEP ITS PRODUCT RUNNING INDEPENDENTLY BEFORE BEING INTEGRATED INTO PAXOS’ GLOBAL PLATFORM. Paxos has announced its acquisition of Fordefi, a wallet provider, for more than $100 million.
The deal strengthens Paxos’ regulated custody platform by incorporating Fordefi’s MPC-based wallet technology, policy engine, and DeFi connectivity for institutional clients. Paxos, a regulated blockchain infrastructure provider and stablecoin issuer, says the move will amplify its capabilities to serve enterprises with a unified, secure, and compliant infrastructure for tokenization, stablecoins, and on-chain financial operations. Fordefi will initially keep its product running independently before being integrated into Paxos’ global platform. Paxos issues PayPal USD, Pax Dollar, and Pax Gold, among other regulated digital assets, underscoring the strategic aim to broaden custody and wallet services while maintaining regulatory alignment.
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