New updates have been reported about Paxos (PC:PAXOS)
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Paxos, a leading regulated blockchain infrastructure platform, has announced its acquisition of Fordefi, a provider of institutional-grade custody and wallet technology. This strategic move aims to bolster Paxos’ capabilities in offering secure and modular custody solutions as the adoption of digital assets accelerates. By integrating Fordefi’s advanced multi-party computation (MPC) wallet architecture and decentralized finance integrations, Paxos plans to enhance its platform, allowing clients to issue stablecoins, tokenize assets, and build complex payment flows with top-tier security and compliance.
Charles Cascarilla, CEO and co-founder of Paxos, emphasized the importance of this acquisition in meeting the complex custody needs of market participants. He highlighted Fordefi’s impressive technology stack and customer base, which will now be part of Paxos’ enterprise-grade platform. Fordefi, founded in 2021 and headquartered in New York and Tel Aviv, will continue to operate its product independently while its technology is gradually integrated into Paxos’ infrastructure. This acquisition is expected to provide a unified custody and stablecoin infrastructure, enabling enterprises to scale real-world digital asset use cases. The terms of the transaction remain undisclosed, but the collaboration is set to drive growth and innovation in the digital asset economy.