Paxos announced the acquisition of the New York encryption wallet startup Fordefi, with a transaction amount exceeding 100 million dollars.

ChainCatcher news, according to Fortune, crypto payment infrastructure company Paxos announced the acquisition of New York crypto wallet startup Fordefi, with a transaction amount exceeding 100 million dollars. Fordefi focuses on crypto wallet solutions designed for Decentralized Finance (DeFi) and currently has about 40 employees, serving around 300 clients. Paxos CEO Charles Cascarilla stated that this acquisition is to meet the growing demand for DeFi access from customers. Fordefi will temporarily operate independently, but Paxos plans to eventually integrate its technology into its own infrastructure. This is Paxos's second acquisition in the past year, having previously acquired Finnish stablecoin issuer Membrane Finance to comply with EU cryptocurrency regulatory requirements.