Paxos acquires Fordefi to power stablecoin, tokenization infrastructure

The addition of Fordefi’s MPC wallet infrastructure broadens Paxos’ regulated capabilities for custody, tokenization and institutional onchain operations.

Blockchain infrastructure company Paxos has acquired Fordefi, a New York-based institutional crypto wallet and custody technology startup.

Paxos said the deal brings its regulated custody infrastructure together with Fordefi’s multi-party computation (MPC) wallet technology and decentralized finance integrations, providing institutions with a single platform to issue stablecoins, tokenize assets, and manage onchain transactions.

While transaction terms were not disclosed in today’s announcement, a Paxos spokesperson told Fortune the deal was worth more than $100 million.

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