rdefi

According to Fortune, cryptocurrency payment infrastructure company Paxos announced the acquisition of New York-based crypto wallet startup Fordefi, with a transaction amount exceeding $100 million. Fordefi focuses on crypto wallet solutions designed for decentralized finance (DeFi) and currently has about 40 employees, serving approximately 300 clients.Paxos CEO Charles Cascarilla stated that this acquisition is aimed at meeting the growing demand from clients for access to DeFi. 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.

ChainCatcher news, the decentralized finance wallet company Fordefi has obtained crime and cyber threat insurance from the German operator Munich Re.The amount of insurance has not been disclosed, but in addition to the general insurance amount for the Fordefi wallet (which uses a clever key-sharing feature, namely multi-party computation (MPC)), customers can also obtain additional coverage from Munich Re based on their individual circumstances.

ChainCatcher news, according to CoinDesk, the MPC wallet platform Fordefi has completed a $10 million financing round, led by Electric Capital with participation from institutions such as Paxos and Alchemy.It is reported that the company is expanding its self-custody MPC wallet product to retail-facing platforms, such as trading platforms and fintech platforms.Previously, in November 2022, Fordefi announced the completion of an $18 million seed round financing, led by Lightspeed Venture Partners, with participation from Electric Capital, Alameda Research, Jump Crypto, Castle Island, Pantera Capital, Illuminate Financial, PayPal Alumni Fund, Nima Capital, Digital Currency Group, Defiance Capital, and StarkWare.

ChainCatcher news, according to official sources, Fordefi has completed a strategic integration with the L1 blockchain Conflux Network, and the Web3 investment firm DWF Labs will be the first client to leverage this partnership. It is reported that Fordefi is a comprehensive MPC wallet platform and an institutional-grade self-custody Web3 gateway for digital assets.

ChainCatcher news, MPC wallet Fordefi has completed a $18 million seed round financing, led by Lightspeed Venture Partners, with participation from Electric Capital, Alameda Research, JumpCrypto, Castle Island, Pantera Capital, Illuminate Financial, PayPal Alumni Fund, Nima Capital, Digital Currency Group, Defiance Capital, and StarkWare.It is reported that Fordefi's MPC wallet platform and Web3 gateway enable institutions to seamlessly connect to dApps across various chains while keeping digital assets secure. Fordefi is the first institutional MPC wallet and security platform built for decentralized finance (DeFi), offering MPC key management, self-service DeFi strategy control, trade-time smart contract insights, trade simulation, and risk alerts.

ChainCatcher news, according to The Block, former BitGo and Curv executive Josh Schwartz has launched a new crypto wallet security company called Fordefi, which provides a wallet platform that allows institutions to participate across various chains. Fordefi states that it uses secure multi-party computation (MPC) to distribute users' private keys in a way that is harder to compromise, enabling users to automate their interactions with blockchains and smart contracts.It is reported that Fordefi's team of 25 is located in Israel and New York, including Michael Volfman and Dima Kogan. The company has hired Stanford University cryptocurrency professor Dan Boneh and former Curv CEO Itay Malinger as advisors. (source link)