Paxos Connects Compliant Infrastructure and Web3 Through $100M Purchase of Fordefi
- Paxos acquired Fordefi for $100M+ to enhance custodial services with MPC technology and DeFi integrations. - Fordefi's $120B+ monthly volume and institutional-grade security align with Paxos' mission to provide compliant digital asset infrastructure. - The deal follows Paxos' earlier acquisition of Membrane Finance and reflects crypto industry consolidation to meet institutional demand for secure solutions. - Despite past regulatory challenges, Paxos continues expanding its enterprise client base includi
Paxos, a prominent provider of regulated blockchain infrastructure, has
Established in 2021, Fordefi is based in New York with an office in Tel Aviv, and its wallet platform is trusted by close to 300 institutions worldwide,
This purchase comes after a phase of rapid growth for Paxos, which
Fordefi CEO Josh Schwartz stated that becoming part of Paxos will enable the company to expand its technology while keeping its focus on security and innovation. "
This acquisition mirrors a larger trend in the crypto sector, where companies are joining forces to better serve institutional needs for secure and compliant services.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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