Which wallet firm did Paxos buy?

TLDR

Paxos bought Fordefi, an institutional crypto wallet startup.

1. The reported price was over $100 million, according to coverage citing Fortunes reporting on the deal over $100 million.
2. The acquisition adds MPC wallet technology and DeFi integrations to Paxoss custody stack, aimed at institutional clients custody and wallet expansion.

Deep Dive

1. The Target

Fordefi provides institutional-grade wallets using multi party computation (MPC), a method that splits approvals to reduce key compromise risk. Reports note roughly 300 clients and operations in New York and Tel Aviv wallet tech and footprint.

Additional details emphasize scale and breadth: support for more than 90 chains, a policy engine and compliance tooling, and claims of safeguarding over $120 billion in monthly transaction volume capabilities snapshot.

2. Why It Matters

Paxos framed the deal as expanding regulated custody toward DeFi access for enterprises, integrating Fordefis wallet tech while allowing Fordefi to operate independently during integration integration rationale. This aligns with Paxoss push beyond stablecoin issuance into broader infrastructure for tokenization, payments and on-chain finance strategy context.

Coverage pegs the transaction at more than $100 million, highlighting the strategic weight Paxos places on DeFi-ready custody and wallet-as-a-service capabilities deal size reference.

Conclusion

Paxos acquired Fordefi to bring institutional MPC wallet technology and DeFi rails into its regulated custody platform. The reported nine-figure deal underlines a push to unify stablecoins, tokenization and secure on-chain operations for enterprise clients.