Paxos Acquires DeFi Wallet Startup Fordefi in $100 Million Deal

Paxos, the blockchain infrastructure firm renowned for its regulated stablecoins, has entered into a definitive agreement to acquire Fordefi, a New York-based DeFi wallet startup, for over $100 million. The deal, announced on November 25, 2025, marks Paxos' strategic expansion into decentralized finance, aiming to provide enterprise clients with secure, regulated access to DeFi ecosystems.

Fordefi's institutional-grade custody solutions and multi-party computation (MPC) wallet technology—bridging traditional and decentralized finance—will be gradually integrated into Paxos' infrastructure. The startup, founded in 2021, supports nearly 300 institutions and facilitates over $120 billion in monthly transaction volume. Paxos CEO Charles Cascarilla cited growing demand among clients for compliant DeFi access as a key driver of the acquisition.

While Fordefi's team and operations will remain independent initially, the acquisition accelerates Paxos' push into on-chain finance. The MOVE underscores institutional appetite for regulated DeFi gateways, with Paxos positioning itself as a critical infrastructure provider in the convergence of legacy and decentralized systems.