TechFlow news, November 25 — According to Fortune, Paxos, a cryptocurrency payment infrastructure company, announced the acquisition of New York-based crypto wallet startup Fordefi for over $100 million. Fordefi specializes in crypto wallet solutions designed for decentralized finance (DeFi) and currently has around 40 employees serving approximately 300 clients.
Paxos CEO Charles Cascarilla said the acquisition aims to meet growing customer demand for DeFi access. Fordefi will continue operating independently in the short term, but Paxos plans to eventually integrate its technology into its own infrastructure.
This marks Paxos' second acquisition within the past year, following its previous purchase of Finnish stablecoin issuer Membrane Finance to comply with European Union cryptocurrency regulations.
