Paxos has acquired institutional wallet provider Fordefi to combine its regulated custody infrastructure with Fordefi’s multi-party computation (MPC) wallet stack and decentralized finance (DeFi) integrations. The deal, whose terms were not disclosed, is aimed at giving institutions a single, compliant platform to issue stablecoins, tokenize assets, and manage on-chain transactions. In parallel, Paxos said it is extending its regulated USDG stablecoin across multiple blockchains using LayerZero’s Omnichain Fungible Token (OFT) standard.
Paxos Adds Fordefi to Unify Custody, MPC Wallets, and DeFi
Paxos said integrating Fordefi’s MPC architecture, policy engine, and DeFi connectivity will enhance its qualified custody services and provide clients with end-to-end tooling for on-chain operations. The combined platform is designed to support complex payment flows, tokenization, and stablecoin issuance while maintaining enterprise-grade security and compliance controls.
Fordefi provides an institutional MPC wallet solution that reportedly safeguards more than $120 billion in monthly transaction volume. By bringing Fordefi in-house, Paxos aims to simplify institutional access to on-chain activity, allowing customers to transact, custody, and build products from a single provider underpinning both traditional and DeFi use cases.
Broader Strategy: Stablecoins, Tokenization, and Enterprise Rails
Paxos issues a range of regulated digital assets, including PayPal USD (PYUSD), Pax Dollar (USDP), and Pax Gold (PAXG). The company has been expanding its footprint in stablecoins and tokenized finance, and earlier this year acquired Finland-based stablecoin issuer Membrane Finance.
Paxos also recently introduced Paxos Labs to help partners embed DeFi products—such as stablecoins, yield strategies, and tokenized assets—directly into their platforms. Together, the Fordefi acquisition and recent product expansions position Paxos as a full-stack infrastructure provider for regulated institutions spanning both centralized custody and emerging DeFi channels.
USDG Expands Omnichain via LayerZero
As part of its multi-chain strategy, Paxos said it is extending its regulated USDG stablecoin across additional networks using LayerZero’s OFT standard. The OFT-based bridged token enables USDG to circulate on chains where Paxos does not yet natively issue, improving liquidity and developer access.
According to the company, USDG is currently available on Solana, Ethereum, Ink, and X Layer. The first phase of the omnichain rollout includes integrations with Hyperliquid—followed by Plume and Aptos—to support use cases such as yield-aligned trading, lending markets, modular DeFi, and enterprise-grade stablecoin rails.
Industry Context
The move underscores ongoing consolidation in crypto wallet and custody infrastructure as enterprises seek secure, compliant ways to operate on-chain. Recent sector deals include fintech providers acquiring wallet platforms to accelerate product development and deepen institutional capabilities.