Paxos Acquires Fordefi For Custody And Wallet Infrastructure

Paxos has announced a new acquisition of crypto company Fordefi.

The stablecoin issuer of Pax Dollar PUSD, PayPal's PYUSD, Global Dollar USDG stablecoins has revealed it is acquiring Israel based company Foredefi, with other media reports of $100M+ price tag being reported.

The Paxos team have been impressed by Fordefi's MPC wallet infrastructure designed securely for institutional use, and given the rise of institutional adoption happening from the second half of the year, this has emerged as a key priority for many issuers and custodians. Foredefi's other product solutions include accompanying defi tools, crypto trading and tokenisation services.

Co-founder and CEO of Paxos Charles Cascarilla has expressed:

“We’ve built Paxos as a neutral, enterprise-grade platform that ushers the world’s leading enterprises into the digital asset economy. Fordefi has built an impressive stack and customer base founded on easy-to-use APIs and seamless web3 connectivity. Market participants require a regulated platform partner that meets their range of complex custody needs. ”

CEO of Fordefi Josh Schwartz of Fordefi has also commented:

“Fordefi has built a best-in-class wallet platform trusted by nearly 300 institutions. Joining Paxos allows us to bring our technology to an even broader audience while maintaining our focus on security, usability and innovation. Together, we will offer enterprises the unified custody and stablecoin infrastructure they need to deploy real-world digital asset use cases at scale.”

With many asset managers, VCs, trading firms, token issuers, treasuries and more financially-focused companies such as Theia, Pantera Capital, MIDAS, Solv, FortunaCustody and others already already utilising Fordefi's infrastructure, Paxos like similar acquirers from within industry throughout 2025 is going after a novel yet tested platform with services that are already embedded across a meaningful list of clients.