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Paxos Acquires Institutional DeFi Wallet Provider Fordefi in $100M+ Deal 🏦
Paxos, the issuer of PayPal USD ($PYUSD), has acquired institutional wallet infrastructure provider Fordefi for over $100 million. The acquisition will integrate Fordefi's institutional-grade MPC wallet technology into Paxos' regulated custody platform.
Fordefi's platform currently safeguards over $120 billion in monthly transaction volume across 90+ blockchains, providing robust transaction processing and compliance tools for institutional DeFi operations. The integration will create a unified infrastructure offering both non-custodial tools and regulated custody services.
This marks Paxos' second major acquisition following its purchase of Membrane Finance earlier this year, strengthening its position in the institutional digital asset infrastructure space while expanding access to decentralized finance for traditional financial institutions.
#Paxos #Fordefi #PYUSD #DeFi #Custody