Stablecoin issuer Paxos has acquired digital asset storage platform Fordefi for over $100 million, as announced on November 25, 2025. The deal, with undisclosed terms, aims to enhance Paxos's crypto custody and wallet offerings by integrating Fordefi's institutional-grade multi-party computation (MPC) wallet technology.
Fordefi, founded in 2021 and based in New York and Tel Aviv, safeguards over $120 billion in monthly transaction volume and will continue operating independently during the integration. Paxos emphasized that the combined platform will enable clients to "issue stablecoins, tokenize assets, and build complex payment flows" on a single, trusted foundation, leveraging Fordefi's support for more than 90 blockchain chains and compliance tools.
This acquisition follows Paxos's recent $26.5 million settlement with the New York State Department of Financial Services over the 2018 launch of Binance USD (BUSD) and its earlier purchase of Membrane Finance to access European markets under MiCA compliance. The move is part of a broader trend of crypto M&A activity, with firms like Coinbase and Stripe also expanding in the stablecoin and DeFi sectors.
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