Paxos Acquires Fordefi for Over $100M to Expand DeFi Custody Solutions

Paxos Acquires Fordefi for Over $100 Million

Paxos, known for stablecoins like [PayPal USD](https://holder.io/coins/pyusd/), is acquiring Fordefi, an institutional crypto wallet startup, for over $100 million.
The acquisition aims to meet the rising demand for regulated access to decentralized finance (DeFi) products from Paxos' customers.
Fordefi provides multi-party computation (MPC)-based wallets, serving around 300 clients with secure crypto custody and DeFi protocol interaction.
The startup will operate independently while its technology integrates into Paxos' custody infrastructure.
This acquisition is Paxos' second in a year, following the purchase of Finnish stablecoin issuer Membrane Finance.
Paxos continues expanding its product portfolio, including launching new stablecoins like PYUSD, USDG, and USDH, targeting different market segments.
Founded in 2012 and regulated by New York State, Paxos focuses on bridging traditional finance with blockchain technology, providing regulated solutions for the crypto economy.