Fordefi
Fordefi is an institutional MPC wallet platform providing secure self-custody, multi-chain DeFi access (90+ blockchains), and policy-driven governance to 300+ hedge funds, market makers, and Web3 companies. Founded in 2021, acquired by Paxos in November 2025 for over $100 million.
- Company typePrivate
- Founded2021
- HeadquartersNew York, United States
- Headcount51–100
- GTM typeB2B
- OfferingSoftware
What Fordefi does
Fordefi is a New York-based institutional digital asset custody and DeFi access platform built on Multi-Party Computation (MPC) key management, founded in 2021 and now operating as a subsidiary of Paxos following its November 2025 acquisition for over $100 million. The company serves 300+ institutional clients — hedge funds, liquid funds, market makers, venture capital firms, and Web3 companies — by providing self-custody wallet infrastructure spanning 90+ blockchain networks (EVM, Solana, Bitcoin, Cosmos, Sui, Aptos, TON, Starknet, Stacks, TRON, Stellar). Its core product suite comprises an MPC Wallet Platform delivered via chain-agnostic browser extension, mobile app, and web console, augmented by a DeFi-native Policy Engine with admin quorum controls, vault permissions, and spending limits; Transaction Clarity with pre-sign simulation and Web3 Risk Alerts; Exchange Connectivity linking spot accounts on Binance, Coinbase, OKX, and Bybit; MEV protection via Flashbots; and deterministic signatures for perps DEXs (dYdX, Paradex, Hyperliquid).
The underlying technology relies on distributed key generation MPC protocols that split private keys across the user's mobile app and Fordefi servers, eliminating single points of failure. Security and compliance posture is institutional-grade: SOC 2 Type II certification (audited by Ernst & Young), Munich Re insurance coverage, and security audits by NCC Group and Skylight Cyber. Fordefi also offers a Wallet-as-a-Service (WaaS) product enabling Web3 businesses to embed self-custody wallets via REST API, MPC SDK, and a JSON-RPC provider. The company recently launched Fordefi Rewards (May 2026), granting subscription credits to clients holding Paxos-issued PYUSD or USDG stablecoins, deepening the cross-sell with its parent.
Fordefi generates revenue primarily through enterprise SaaS subscriptions on a quote-based annual model, supplemented by API and SDK licensing for WaaS customers and developer tooling. The go-to-market combines direct enterprise field sales targeting institutions with API-first distribution for embedded wallet customers. At acquisition, the company employed approximately 40 people, supported offices in New York (HQ) and Tel Aviv (R&D), and was processing over $120 billion in monthly transaction volume across its institutional base.
Fordefi firmographics
Firmographics- Name
- Fordefi
- Legal name
- Fordefi Inc.
- Website
- https://fordefi.com
- Company type
- Private
- Founded year
- 2021
- Operating status
- Acquired
- Headcount range
- 51–100 employees
- Short description
- Fordefi is an institutional MPC wallet platform providing secure self-custody, multi-chain DeFi access (90+ blockchains), and policy-driven governance to 300+ hedge funds, market makers, and Web3 companies. Founded in 2021, acquired by Paxos in November 2025 for over $100 million.
- Ownership category
- akta.pro rank
Fordefi industry classification
Industry- Product category
- Institutional Crypto Wallet
- NAICS
- Funds, Trusts, and Other Financial Vehicles (525)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- MPC / HSM / Key Management Infrastructure (FSADACAC)
- akta.pro secondary industries
- Custody Technology Platforms (Custody-as-a-Service) (FSADACAB), Transaction Policy Controls & Wallet Security (Allowlisting, Limits, Approvals) (FSADACAI)
Keywords
Where Fordefi is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Fordefi business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Supply Chain
Revenue model
- SaaS Platform / Subscription: Fordefi operates as a SaaS platform providing MPC wallet infrastructure to institutional clients. The platform is accessed via subscription, with the company describing its costs as SaaS costs. Fordefi Rewards program offsets software subscription credits for clients holding PYUSD or USDG stablecoins, suggesting a tiered subscription model with usage-based incentives.
- Wallet-as-a-Service (WaaS): WaaS platform enabling web3 businesses to embed secure, user-controlled wallets into their applications via API and SDK, generating revenue from embedded wallet provisioning and API usage.
- Developer APIs and SDK Licensing: Revenue from developer API access, SDK licensing for MPC wallet creation at scale, and programmatic transaction signing for enterprise clients via REST API.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | SaaS subscription model with enterprise pricing |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels10 records
Fordefi product offering
Product offeringCore offering
Fordefi provides an institutional Multi-Party Computation (MPC) wallet platform that enables secure self-custody of private keys across 90+ blockchains with a DeFi-native policy engine, transaction simulation and risk alerts, multi-chain browser extension, exchange connectivity, and Wallet-as-a-Service (WaaS) APIs/SDKs. The platform serves hedge funds, market makers, Web3 companies, and other institutional clients needing governance, automation, and policy-driven controls for digital asset operations.
Product overview
Fordefi is a unified institutional MPC wallet platform offering a comprehensive suite of products for digital asset management. The core platform consists of the MPC Wallet Platform with Browser Extension, Mobile App, and Web Console components. Built on top are specialized modules including Transaction Clarity (simulation, enrichment, risk alerts), Policy Engine (approval workflows, Admin Quorum, Vault View Permissions), and Exchange Connectivity (Binance, Coinbase, OKX, Bybit). For developers, Fordefi provides REST API, JSON-RPC Provider, and MPC SDK products enabling wallet creation, transaction management, and DeFi integration. The Wallet-as-a-Service (WaaS) product extends these capabilities to web3 businesses embedding secure wallets. Additional features include MEV Protection, Deterministic Signatures, DApp Directory, Web3 Risk Alerts, and the recently launched Fordefi Rewards program for PYUSD/USDG holders.
Differentiator
Problem solved
Functional benefit
Quantifiable outcome
- Over $120 billion in monthly transaction volume processed
- +3 more outcomes
Companies that use Fordefi
Customer profileNamed customers19 records
Segments4 records
Ideal customer profiles4 records
Fordefi technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration12 records
Feature9 records
Fordefi partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core.
- Solv ProtocolcoreFordefi and Solv Protocol partnered to expand institutional access to Bitcoin yield strategies across DeFi, CeFi, and RWAs. The partnership enables Fordefi's 300+ clients to route Bitcoin into Solv-powered yield strategies directly from Fordefi's MPC wallet infrastructure, connecting BTCfi to over $100 billion in monthly institutional flows.
- Uniswap LabscoreFordefi integrated the Uniswap Trading API, giving its clients access to UniswapX and Uniswap Classic protocols. The integration combines Fordefi's MPC security and policy-driven controls with Uniswap's deep DeFi liquidity, enabling institutional investors to trade on DeFi within Fordefi's environment.
- BlockFillscoreStrategic partnership where BlockFills leverages Fordefi's multi-blockchain MPC wallet infrastructure to expand token coverage and enable clients to access DeFi instruments. Fordefi's customers gain access to BlockFills' trading capabilities across a broad range of digital assets, addressing institutional demand for secure, white-glove DeFi trading support.
- ChainalysiscoreFordefi partnered with Chainalysis to bring AML (Anti-Money Laundering) compliance to institutional digital asset operations. The integration enables Fordefi to offer transaction screening and compliance monitoring using Chainalysis' blockchain analytics and compliance tools.
Scale indicators7 records
Recent moves6 records
Expansion highlights6 records
Fordefi competitors and assessment
Company assessmentDirect peers
- Fireblocks: Fireblocks is the leading institutional MPC custody and wallet infrastructure platform, serving exchanges, hedge funds, and trading firms with policy-driven key management and DeFi access—directly competing with Fordefi across institutional MPC, policy engines, and 40+ chain coverage.
- BitGo: BitGo is a regulated digital asset custody and wallet provider with qualified custody, multi-signature and MPC wallets, and institutional staking—overlapping with Fordefi's institutional MPC wallet and policy-driven workflows.
- Anchorage Digital: Anchorage Digital is a federally chartered crypto bank offering institutional custody, MPC wallet infrastructure, and staking—directly comparable to Fordefi's institutional digital asset custody and governance offering.
- Cobo: Cobo provides institutional and developer-facing digital asset custody and wallet infrastructure, including MPC, smart contract,, and HSM-based wallets, plus DeFi yield and trading APIs—closely aligned with Fordefi's MPC + WaaS + DeFi connectivity stack.
- Safe (formerly Gnosis Safe): Safe is the leading smart contract wallet infrastructure provider for institutional and DAO treasuries, offering multi-chain self-custody with policy modules—competing with Fordefi in the multi-chain self-custody wallet layer for organizations.
- Ledger Enterprise: Ledger Enterprise provides institutional-grade custody and self-custody wallet solutions built on hardware-secured key management, with policy controls and DeFi access—a credible alternative for institutional clients evaluating Fordefi's MPC offering.
Broad incumbents
- Coinbase Custody (Coinbase Prime): Coinbase Prime / Custody is a regulated, full-stack institutional digital asset platform offering custody, trading, and financing as part of Coinbase's broader exchange business—competing with Fordefi at the high end of institutional mandates while serving a much wider product portfolio.
Emerging players
- ZenGo: ZenGo offers MPC-based self-custodial wallets with multi-chain support and a developer API for embedded wallets—an emerging direct competitor to Fordefi's WaaS offering, particularly for fintechs and consumer wallets.
- Dfns: Dfns provides wallet-as-a-service and MPC key management APIs for institutions and fintechs building crypto applications—an emerging player in the same WaaS / institutional MPC infrastructure category as Fordefi.
Regional players
- Liminal: Liminal is an institutional digital asset custody and wallet infrastructure provider focused on Asia-Pacific and emerging markets, offering MPC wallets and policy controls—a regional peer with overlapping institutional MPC capabilities.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat6 records
Key risks6 records
Key highlights6 records
Customer concentration
Fordefi social profiles
Digital presenceFordefi compliance and trust
Trust signalCompliance3 records
Fordefi financial estimates
Financial estimateRevenue estimate
Valuation estimate
Fordefi leadership team
Management profileNumber of profiles
Profiles4 records
Fordefi funding detail
Funding detailFunding overview
Funding rounds2 records
Investors16 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Fordefi M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Fordefi
What does Fordefi do?
Fordefi provides an institutional Multi-Party Computation (MPC) wallet platform that enables secure self-custody of private keys across 90+ blockchains with a DeFi-native policy engine, transaction simulation and risk alerts, multi-chain browser extension, exchange connectivity, and Wallet-as-a-Service (WaaS) APIs/SDKs. The platform serves hedge funds, market makers, Web3 companies, and other institutional clients needing governance, automation, and policy-driven controls for digital asset operations.
Is Fordefi a public or private company?
Fordefi is a private company. It is classified as corporate owned and is currently acquired.
When was Fordefi founded?
Fordefi was founded in 2021. It employs 51 to 100 people.
Where is Fordefi based?
Fordefi is headquartered in New York, United States, in the North America region.
How does Fordefi make money?
Three revenue lines are on record. SaaS Platform / Subscription is the primary driver. The others are wallet-as-a-Service (WaaS) and developer APIs and SDK Licensing.
Who are Fordefi's main competitors?
Direct peers on record are Fireblocks, BitGo, Anchorage Digital, Cobo, Safe (formerly Gnosis Safe) and Ledger Enterprise. Coinbase Custody (Coinbase Prime) is listed as a broad incumbent. Emerging players are ZenGo and Dfns. Liminal is listed as a regional player.
Does Fordefi have an API?
Yes. Fordefi offers a REST API and Web3 Provider interface that enables developers to create self-custody MPC wallets at scale, automate transaction signing and approvals, mint/custody/transfer tokens and NFTs, secure and deploy smart contract transactions, access blockchain data and portfolio data, create unlimited vaults, and generate/approve/sign transactions. The API supports full transaction lifecycle management, asset listing, and real-time notifications. Developer documentation is at docs.fordefi.com.
What industry is Fordefi in?
Fordefi's product category is Institutional Crypto Wallet. Its primary akta.pro industry code is FSADACAC, MPC / HSM / Key Management Infrastructure, with a secondary code of FSADACAB, Custody Technology Platforms (Custody-as-a-Service). Its NAICS code is 525 and its SIC code is 6199.