Fordefi’s platform is trusted by nearly 300 global institutions
Paxos, the leading regulated blockchain infrastructure platform, announced it has acquired Fordefi, an institutional-grade custody and wallet technology provider.
Businesses have long relied on Paxos for trusted custodial infrastructure as they enter the on-chain financial economy. Digital asset market adoption continues to accelerate and customers now require secure and modular custody solutions. This acquisition combines Paxos’ decade-long expertise in regulated infrastructure and qualified custody with Fordefi’s multi-party computation (MPC) wallet architecture, policy engine and deep decentralized finance integrations. Clients will be able to build upon a single, trusted platform to issue stablecoins, tokenize assets and build complex payment flows while maintaining the highest standards for security and compliance.
Charles Cascarilla, CEO and co-Founder of Paxos, commented, “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.”
Founded in 2021 with offices in New York and Tel Aviv, Fordefi is the first institutional-grade multi-party computation (MPC) wallet platform built to solve the unique security, connectivity and policy challenges of decentralized finance. Fordefi will continue operating its product independently and customers can continue using the product as usual. Over time, Paxos will integrate Fordefi’s technology and operations into its infrastructure. The terms of the transaction were not disclosed.
“Fordefi has built a best-in-class wallet platform trusted by nearly 300 institutions,” said Josh Schwartz, CEO of Fordefi. “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.”
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