PANews reported on November 25th that, according to Fortune, Paxos announced the acquisition of New York-based DeFi wallet startup Fordefi for over $100 million. Founded in 2021, Fordefi has approximately 40 employees and 300 customers, and its previous valuation was $83 million. Following the acquisition, Fordefi will continue to operate independently, and Paxos plans to integrate its technology into its own system. This transaction marks Paxos' second acquisition within a year, further expanding its reach after acquiring EU stablecoin issuer Membrane Finance in February to comply with MiCA regulations.PANews reported on November 25th that, according to Fortune, Paxos announced the acquisition of New York-based DeFi wallet startup Fordefi for over $100 million. Founded in 2021, Fordefi has approximately 40 employees and 300 customers, and its previous valuation was $83 million. Following the acquisition, Fordefi will continue to operate independently, and Paxos plans to integrate its technology into its own system. This transaction marks Paxos' second acquisition within a year, further expanding its reach after acquiring EU stablecoin issuer Membrane Finance in February to comply with MiCA regulations.
Paxos acquires DeFi wallet company Fordefi for over $100 million
PANews reported on November 25th that, according to Fortune, Paxos announced the acquisition of New York-based DeFi wallet startup Fordefi for over $100 million. Founded in 2021, Fordefi has approximately 40 employees and 300 customers, and its previous valuation was $83 million. Following the acquisition, Fordefi will continue to operate independently, and Paxos plans to integrate its technology into its own system. This transaction marks Paxos' second acquisition within a year, further expanding its reach after acquiring EU stablecoin issuer Membrane Finance in February to comply with MiCA regulations.
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