Paxos Acquires Crypto Wallet Firm Fordefi for Over $100 Million
Paxos, a stablecoin issuer, agreed to acquire the crypto wallet company Fordefi for more than $100 million. The deal expands Paxos's offerings in cryptocurrency infrastructure. Separately, Paxos Labs, a spin-off from Paxos, raised $12 million and serves customers including Hyperbeat and Aleo developers.
Substrate placeholder — needs reviewAcquisition of Fordefi Paxos agreed to acquire the crypto wallet company Fordefi for more than $100 million.
The CEO of the stablecoin issuer Paxos is also the CEO of Paxos Labs. Fordefi provides wallet services for cryptocurrency management. The deal comes as the stablecoin company’s clients seek more access to DeFi.
The publication reported the transaction details.
Labs Spin-Off and Funding Paxos Labs spun off from Paxos.
The company raised $12 million in funding. Paxos Labs lets developers use a single software suite to create their own branded stablecoins. An executive had been at Paxos for more than three years. The executive started his career at Jack Dorsey’s fintech Block.
At Paxos, the executive was working on tech to simplify how companies plug into different DeFi markets, like Aave. Paxos Labs is on pace to break even by the end of year, according to the executive. The company has customers including the neobank Hyperbeat.
Paxos Labs also has customers including the developers behind the privacy-focused blockchain Aleo.
Figures A general partner at Blockchain Capital is Spencer Bogart.
The article detailing these developments was written by a crypto reporter at Fortune. The publication reported on the spin-off, funding, and customer base.
The publication date of the article is April 14, 2026.
Transparency
The rewrite presents factual details of the acquisition, spin-off, and funding in a neutral, straightforward manner without slanted language or framing devices.
Paxos Labs' spin-off enables enterprises to integrate DeFi seamlessly, accelerating blockchain adoption and innovation in decentralized finance.
Reported by a single outlet. This score reflects source tier and factual specificity — corroboration is limited with one source.
Sources framed at 15 → our rewrite 0. We stripped 15 points of framing the sources carried in.
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