Paxos announced it has acquired Fordefi, an institutional multi-party computation wallet platform serving nearly 300 global organizations. The deal brings together Paxos’ regulated blockchain and qualified custody infrastructure with Fordefi’s MPC wallet technology, policy engine, and decentralized finance integrations. Terms of the transaction were not disclosed.
The acquisition will allow Paxos customers to use a single platform for tokenization, stablecoin issuance, asset custody, and digital payment operations. Fordefi will continue operating its product independently for now, while Paxos gradually integrates its technology and operational framework into its broader infrastructure.
Founded in 2021, Fordefi operates from offices in New York and Tel Aviv and specializes in MPC-based wallet security for institutions. According to the company, its infrastructure safeguards over $120 billion in monthly transaction volume. Paxos noted that the combination strengthens its goal of delivering regulated, enterprise-grade infrastructure for organizations entering the on-chain financial ecosystem.
Paxos currently partners with companies such as PayPal, Interactive Brokers, Mastercard, Mercado Libre, and Nubank for tokenization, custody, and settlement solutions. Regulators, including the New York Department of Financial Services, the Monetary Authority of Singapore, FIN-FSA in Europe, and the FSRA in Abu Dhabi, license it. The company has raised more than $500 million from Oak HC/FT, Declaration Partners, Founders Fund, and PayPal Ventures.
Fordefi emphasized that joining Paxos will allow its wallet and security platform to reach a broader customer base while maintaining focus on secure and compliant digital asset operations.
KEY QUOTES
“We’ve built Paxos as a neutral, enterprise-grade platform that ushers the world’s leading enterprises into the digital asset economy. Fordefi has built an impressive stack and customer base founded on easy-to-use APIs and seamless web3 connectivity. Market participants require a regulated platform partner that meets their range of complex custody needs. Together, Paxos and Fordefi provide customers with a world-class custody solution built upon advanced wallet technology and regulated, qualified custody. We’re excited to welcome Fordefi to our team as we enter this new phase of growth.”
Charles Cascarilla, CEO And Co-Founder Of Paxos
“Fordefi has built a best-in-class wallet platform trusted by nearly 300 institutions. Joining Paxos allows us to bring our technology to an even broader audience while maintaining our focus on security, usability and innovation. Together, we will offer enterprises the unified custody and stablecoin infrastructure they need to deploy real-world digital asset use cases at scale.”
Josh Schwartz, CEO Of Fordefi
