Paxos has announced the acquisition of New York-based crypto wallet startup Fordefi.
2025-11-25 13:47:00
Crypto payment infrastructure company Paxos has announced the acquisition of New York-based crypto wallet startup Fordefi for more than $100 million. Fordefi, which focuses on crypto wallet solutions designed for decentralized finance (DeFi), currently has around 40 employees and serves around 300 customers. Charles Cascarilla, CEO of Paxos, said the acquisition is to meet customers' growing demand for DeFi access. Fordefi will remain independent for the time being, but Paxos plans to eventually integrate its technology into its own infrastructure. This is Paxos' second acquisition in the past year, after the company had acquired Finnish stablecoin issuer Membrane Finance to comply with European Union cryptocurrency regulatory requirements.
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