Transaction · Crypto / Digital Assets · 2025

Paxos / Fordefi 2025

Paxos acquired Fordefi for $100M on November 25, 2025.

Target
Fordefi
Acquirer
Paxos
Deal value
$100M
Announced
November 25, 2025
Sub-sector
Crypto / Digital Assets

Transaction overview

  • Paxos announced the acquisition of Fordefi on November 25, 2025 for $100M.

Strategic rationale

Expand regulated custody infrastructure with MPC wallet technology and DeFi integrations to serve institutional clients issuing stablecoins and tokenizing assets.

Deal terms & multiples

Deal value
$100M
Target revenue
Not disclosed
Target EBITDA
Not disclosed
EV / Revenue
Not disclosed
EV / EBITDA
Not disclosed
Announcement
November 25, 2025
Acquirer
Paxos (Strategic)

Sources