Key Notes

Fordefi's MPC-based wallet technology will integrate into Paxos' custody infrastructure while maintaining independent operations.

The acquisition marks Paxos' second purchase in a year, following its Membrane Finance deal as institutional DeFi interest surges.

Paxos continues expanding beyond stablecoins like PYUSD and USDG to offer comprehensive regulated crypto services.

Paxos, a company known for issuing stablecoins like PayPal USD, is acquiring Fordefi, an institutional crypto wallet startup, for over $100 million. The acquisition addresses rising demand from Paxos’ customers for regulated access to decentralized finance (DeFi) products, according to the company.

Fordefi operates multi-party computation (MPC)-based wallets that enable secure crypto custody and DeFi proto

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