Paxos announces acquisition of New York crypto wallet startup Fordefi
Jinse Finance reported that crypto payment infrastructure company Paxos has announced the acquisition of New York-based crypto wallet startup Fordefi, with the transaction amount exceeding 100 million US dollars. Fordefi specializes in crypto wallet solutions designed for decentralized finance (DeFi) and currently has about 40 employees, serving around 300 clients. Paxos CEO Charles Cascarilla stated that this acquisition is aimed at meeting the growing demand from clients for DeFi access. Fordefi will temporarily operate independently, but Paxos plans to eventually integrate its technology into its own infrastructure. This is Paxos's second acquisition in the past year; previously, the company acquired Finnish stablecoin issuer Membrane Finance to comply with EU cryptocurrency regulatory requirements.
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