Paxos, the stablecoin infrastructure platform behind PYUSD, USDP, USDG, and PAXG, has agreed to acquire Fordefi, a custodial multi-party computation (MPC) wallet provider. The deal is reportedly worth more than $100 million, according to Fortune. Fordefi will continue operating its product independently, and customers can continue using the product as usual.
Paxos plans to integrate Fordefi’s technology and operations into its infrastructure over time. The acquisition will enable Paxos clients to issue stablecoins, tokenize assets, and build complex payment flows, all while upholding stringent security and compliance standards.
Charles Cascarilla, CEO and co-founder of Paxos, said the firm has built a neutral, enterprise-grade platform that enables leading enterprises to enter the digital asset economy, and he praised Fordefi’s API-driven stack and seamless Web3 connectivity. Josh Schwartz, CEO of Fordefi, stated that joining Paxos will broaden Fordefi’s reach while preserving security, usability, and innovation, enabling enterprises to deploy real-world digital asset use cases at scale.
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