Paxos Acquires Fordefi for Over $1 Billion to Expand Stablecoin DeFi Wallet Solutions

According to Fortune, reported by COINOTAG News on November 25, Paxos plans to acquire Fordefi, a New York-based crypto wallet designer, in a deal exceeding $1 billion. Fordefi develops encrypted DeFi wallets and currently employs about 40 staff serving roughly 300 clients. The acquisition aims to broaden DeFi access for both institutions and retail users, while strengthening Paxos’ infrastructure.

Fordefi will operate independently for now, with Paxos pursuing a phased integration of the technology into its platform to scale DeFi offerings. This approach prioritizes client continuity as the firm expands its infrastructure and product capabilities.

This marks Paxos‘s second acquisition in the past year, following the Finnish stablecoin issuer Membrane Finance to advance EU regulatory compliance efforts. The deal signals a strategic push to fortify cross-border crypto infrastructure and regulatory-ready services.