Dfns
Paris-based Dfns (founded 2019) provides proprietary MPC-based wallet infrastructure and core-banking APIs for digital assets, serving 400+ banks, fintechs, custodians, payment providers, and tokenization issuers that secure over $100B in assets across 100+ blockchains.
- Company typePrivate
- Founded2019
- HeadquartersParis, France
- Headcount51–100
- GTM typeB2B
- OfferingSoftware
What Dfns does
Dfns is a Paris-based digital-asset wallet-infrastructure provider founded in 2019 that, in June 2026, rebranded as the 'core banking platform for digital assets.' The company serves banks, custodians, fintechs, neobanks, payment service providers, market makers, tokenization issuers, asset managers, governments, and core-banking platforms, claiming 400+ institutional clients, $100B+ in client assets secured, $10B+ in monthly transaction volume, and approximately 1% of global stablecoin payment flows. Reference customers include Standard Chartered (via Zodia Custody), Stripe (Bridge), IBM (Digital Asset Haven), Kraken, Circle, MoonPay, Apex Group, Susquehanna, and Temenos.
The platform is organized around eight integrated modules — Wallet-as-a-Service, Transaction Management, Treasury Management, Tokenization Engine, Workflows, Policy Engine, Governance Engine, and Key Management — exposed through a single REST API with SDKs in TypeScript, Python, Go, and Java. Dfns' technical core is its proprietary MPC protocol stack (CGGMP24, FROST, KU23/KU25), built in-house by DFNS Labs rather than licensed, supporting secp256k1, Ed25519, Stark, and Schnorr curves with optional HSM and TEE signers and Merkle-anchored governance attestation. The platform spans 100+ blockchains, integrates with 103 third-party services (exchanges, compliance vendors, HSMs, BaaS cores, cloud providers), and is deployable as SaaS, hybrid, or fully on-premises, with KPMG-audited SOC 2 Type I & II and ISO 27001/27017/27018 certifications.
Revenue is generated primarily through tiered SaaS subscriptions — Starter ($800/year), Basic ($8,000/year), Pro ($35,000/year), and custom Enterprise — supplemented by usage-based overages for wallets and signatures beyond plan allowances, and custom-priced on-premises deployments. Go-to-market combines enterprise field sales (with dedicated Strategic Account Managers in EMEA, Americas, APAC, and LATAM, plus CEO-led Tier-1 conversations) with product-led self-service via a free 30-day sandbox. The company has raised approximately $30.6M in total funding across a December 2020 pre-seed, an April 2022 seed of $13.5M led by White Star Capital, and a January 2025 Series A of $16M led by Abu Dhabi-backed Further Ventures, with participation from Bpifrance, Motive Partners, Wintermute, and others.
Dfns firmographics
Firmographics- Name
- Dfns
- Legal name
- Dfns SAS
- Website
- https://dfns.co
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Paris-based Dfns (founded 2019) provides proprietary MPC-based wallet infrastructure and core-banking APIs for digital assets, serving 400+ banks, fintechs, custodians, payment providers, and tokenization issuers that secure over $100B in assets across 100+ blockchains.
- Ownership category
- akta.pro rank
Dfns industry classification
Industry- Product category
- Digital Asset Custody Infrastructure
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (5182)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Digital Asset Custody & Key Management (MPC, HSM, Wallet Infra) (FSAGAMAB)
- akta.pro secondary industries
- Wallet Infrastructure (SDKs, Wallet-as-a-Service) (FSADACAD), Crypto Payments & Stablecoin Settlement Platforms (BPAMAFAL)
Keywords
Where Dfns is headquartered
LocationHeadquarters
- HQ city
- Paris
- HQ country
- France
- HQ region
- Europe
Offices6 records
Markets served
Dfns business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Infrastructure, Marketing or Sales, Operations
Revenue model
- Subscription plans (annual / quarterly): Tiered SaaS subscription: Starter $800/year or $200/quarter, Basic $8,000/year or $2,000/quarter, Pro $35,000/year or $8,750/quarter, Enterprise custom. Pricing includes user seats, wallets, blockchain coverage, policies, webhooks, API rate limits, signatures/month, and bundled compliance/audit log features. Hybrid element: Pro and Enterprise plans include 'pay as you go' for additional wallets beyond the included allowance.
- Usage-based overage (wallets and signatures): Usage-based overage charges for additional wallets beyond plan allowance (volume-priced, decreasing per unit at higher volume) and higher signature volumes beyond monthly allowances (100/1k/10k/100k per month on Starter/Basic/Pro/Enterprise). Add-ons include fee sponsors, audit logs, ABI decoding, exchange/payment integrations, BYO HSM, disaster recovery, custom signing thresholds.
- Enterprise / on-prem deployment and professional services: Custom-priced Enterprise tier with on-premises deployment, dedicated support channel, <1h response, 24/7/365 support, custom SLA, code escrow, segregated environments, hybrid MPC, BYOK/BYOTEE, and tailored feature/deployment scope.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Starter — self-service entry tier for individuals/teams. |
| Subscription | Annual | Basic — essential tools for teams. |
| Subscription | Annual | Pro — most popular, scale operations with hybrid deployments. |
| Subscription | Multi-year contract | Enterprise — custom build for banks and large institutions. |
| Freemium | Pay-as-you-go | Free 30-day sandbox trial |
Go-to-market motion6 records
Distribution channels9 records
Marketing channels9 records
Dfns product offering
Product offeringCore offering
Dfns is a non-custodial core banking platform for digital assets that exposes a single REST API and SDKs to create, manage and sign wallets across 100+ blockchains, enforce governance policies, tokenize assets and orchestrate payments. The platform combines proprietary MPC protocols (CGGMP24, FROST, KU25) with optional HSM/TEE signers and a cryptographically enforced Policy Engine, deployed as SaaS, hybrid or fully on-premises for banks, fintechs, custodians, PSPs and governments.
Product overview
DFNS is a platform-plus-modules architecture serving as the core banking platform for digital assets, rebranded from a wallet infrastructure provider in June 2026. The platform comprises eight integrated modules — Wallet-as-a-Service (creating and managing wallets across 100+ blockchains and third-party services), Transaction Management (formatting, simulating, signing, broadcasting, and tracking transactions), Treasury Management (consolidating balances and governing transfers across entities and chains), Tokenization Engine (issuing and servicing tokenized assets across their full lifecycle), Workflows (automating financial operations through service accounts, webhooks, and policies), Policy Engine (enforcing governance rules with M-of-N quorums and compliance checks before signing), Governance Engine (zero-trust cryptographic verification of user intent and onchain data via Merkle-anchored records), and Key Management (MPC, HSM, and offline key storage with flexible deployment models). These modules share the same authentication, audit, key, and identity infrastructure — including DFNS' own MPC protocols (CGGMP24, FROST, KU25), TEE attestation, and a 103-integration marketplace — enabling banks, fintechs, PSPs, custodians, and asset managers to build regulated financial products onchain. The platform is offered in four pricing tiers (Starter, Basic, Pro, Enterprise) and deploys as SaaS, hybrid, or fully on-premises with SOC 2, ISO 27001, ISO 27017, and ISO 27018 certifications.
Differentiator
Problem solved
Functional benefit
Products and services
- Wallet-as-a-Service
Quantifiable outcome
- $100B+ in client assets secured
- +12 more outcomes
Companies that use Dfns
Customer profileNamed customers56 records
Segments10 records
Ideal customer profiles7 records
Dfns technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration109 records
AI capability1 record
Feature9 records
Dfns partnerships and signals
Strategic signalPartnerships
40 partnerships are on record, tiered core, minor and flagship / core.
- Borderless (Borderless.xyz)coreFirst integration of DFNS' Payouts API is powered by Borderless, enabling institutions to convert stablecoins to fiat and route payouts across multiple bank accounts in 94 countries with 60 currencies through a network of 14 licensed financial institutions.
- Global Ledger (compliance)coreDFNS integrates Global Ledger to expand KYT and AML intelligence inside the DFNS Policy Engine; integrated as first-class rule condition.
- Open Wallet (Yolo Group)minorOpen Wallet, the consumer finance app backed by Yolo Group, chose DFNS to power the secure wallet infrastructure behind its fast-growing mobile app.
- Zama NetworkcoreDFNS joins Zama's operator network to enable privacy-preserving transactions onchain, leveraging Zama's FHE technology and DFNS' encrypted transactions.
- IBMflagship / coreIBM and DFNS co-developed IBM Digital Asset Haven, an end-to-end platform for banks, governments and corporations to manage digital asset operations across 40+ blockchains (custody, transactions, settlement, compliance, governance). Combines IBM infrastructure security with DFNS' digital wallet infrastructure (15M wallets created for 250+ clients). Available via SaaS Q4 2025, Hybrid SaaS, and on-prem Q2 2026. Also integrated with IBM OSO (airgapped cold storage) and IBM HPVS (confidential computing).
- SpikocoreSpiko, the leading platform for tokenized money-market funds, uses DFNS to secure and automate its wallet infrastructure.
- KeyrailscoreKeyrails, a stablecoin-based operating system for cross-border finance, chose DFNS to power its wallet infrastructure. Keyrails settles high-value import, export and commodity trade across 100+ emerging markets.
- Thales (HSM)coreDFNS now supports Thales HSMs for blockchain wallets and key management, enabling institutions to run programmable wallet infrastructure using their own certified hardware.
- Notabene (Travel Rule compliance)coreNative Travel Rule compliance integration through Notabene (Jun 2025), and Notabene Flow founding partner (Sep 2025) to bring trust and authorization to stablecoin-based B2B payments.
- ParfincoreParfin chose DFNS as its wallet infrastructure for institutional digital assets in Latin America.
- CoinhousecoreCoinhouse, one of Europe's most established crypto platforms, chose DFNS to power its next-generation wallet infrastructure.
- ObligateminorObligate is integrating DFNS into its wallet infrastructure to power the next phase of its onchain capital markets platform.
- HIFIcoreHIFI and DFNS are partnering to make money movement programmable, secure and production-ready at scale; HIFI is cited as a customer on DFNS' Transaction Management page.
- Yield.xyz (yield)coreDFNS and Yield.xyz partnership brings onchain yield into institutional infrastructure via DFNS Allocations.
- Securosys (HSM)coreDFNS now supports Securosys Hardware Security Modules (HSMs) for blockchain wallets and key management, extending programmable wallet infrastructure into the most secure hardware environments used by financial institutions.
- Solana Developer PlatformcoreDFNS selected as an early launch partner of Solana Developer Platform, giving wallet infrastructure distribution through Solana's developer marketplace.
- Bridge (Stripe-owned)flagship / coreBridge, a Stripe-owned company, runs its stablecoin payments on DFNS for fast, reliable and secure global transactions (powers stablecoin payouts for Klarna, Coinbase, SpaceX, Remitly, Shopify).
- FuzecoreFuze selected DFNS to provide secure, compliant, production-grade digital asset infrastructure for the UAE and broader Middle East.
- Agant (GBPA)minorAgant, creator of GBPA fully-backed digital pound stablecoin, chose DFNS as its wallet management platform.
- Figment (staking)coreDFNS supports staking with Figment, enabling secure, automated ETH and BTC staking across multiple blockchains via DFNS Allocations.
- JanuarminorJanuar, a leading European crypto-enabled financial infrastructure provider, chose DFNS as its primary wallet infrastructure partner.
- Coinbase ExchangecoreCoinbase is integrated into the DFNS platform, allowing users to access Coinbase's advanced trading and custody services more securely through DFNS, keeping sensitive tasks within the customer's security perimeter and operational workflows.
- ZoniqxminorZoniqx and DFNS partnership enabling tokenized real estate, private equity or carbon credits without complicated wallet management.
- Zodia Custody (Standard Chartered subsidiary)flagship / coreZodia Custody and DFNS joined forces to redefine institutional digital asset custody, combining cutting-edge security, compliance and scalability to empower investors navigating crypto finance.
- Tungsten CustodycoreUAE-based Tungsten Custody and DFNS partnered to improve institutional digital asset management in the UAE, enhancing financial services with advanced wallet infrastructure across Dubai, Abu Dhabi and beyond.
- Beazley and Munich Re (insurance underwriters)coreDFNS secured top-tier insurance coverage up to $15M/year from Munich Re and Beazley covering cyber, E&O and crime — included across all DFNS plans.
- Binance ExchangecoreBinance integration provides secure access to Binance's liquidity and streamlined fund management directly from the DFNS dashboard, with robust API key security for deposits, withdrawals and balance tracking.
- Coincheck (exchange customer)minorCoincheck cited as customer on DFNS' Policy Engine page; user of DFNS' governance and policy infrastructure.
- Chainalysis (compliance)coreReal-time transaction monitoring, KYT/AML screening and sanctions screening embedded as a first-class rule condition in the DFNS Policy Engine. Transactions flagged 'Severe' can be auto-blocked.
- Temenosflagship / coreDFNS is the first and only EU-based wallet service and digital-asset infrastructure now available on Temenos, giving 3,000+ banks worldwide instant access to digital assets through their existing core banking systems without needing to change vendors.
- Mambu (BaaS)coreDFNS integrated into Mambu core banking-as-a-service platform as a digital-asset custody module.
- Transfero (exchange customer)minorTransfero cited on DFNS' Policy Engine page as customer; uses DFNS for policy-enforced wallet operations.
- Kraken ExchangecoreFirst exchange integration with Kraken, enabling users to manage Kraken accounts directly from DFNS with a focus on security and API key management.
- Vita WalletminorVita Wallet partnered with DFNS to enhance secure, stablecoin-powered transfers across LATAM, ensuring faster and safer international transactions.
- GRVTminorGRVT launched GRVT Wallets, the first biometric wallet iframe in the world of decentralized exchanges, powered by DFNS.
- DueminorDue launches embedded wallets on DFNS to facilitate safe onboarding of new users to its global payment product.
- UDPN (Universal Digital Payment Network)coreDFNS and UDPN partner to help banks move flows onchain and gain full ownership of their tokenized deposit infrastructure.
- ArianeeminorArianee and DFNS teamed up to accelerate the distribution of digital passports across the goods and supply-chain economy.
- MidascoreDFNS and Midas joined forces to bring institutional-grade yield strategies onchain — tokenized US Treasuries, crypto basis trades and Bitcoin yield products within DFNS wallets.
- TokenyminorDFNS' embedded wallets enable Tokeny to offer investors and asset managers a seamless user journey into digital assets.
Scale indicators17 records
Recent moves7 records
Expansion highlights6 records
Dfns competitors and assessment
Company assessmentBroad incumbents
- Blockdaemon: Blockdaemon provides blockchain infrastructure including node, staking and wallet/MPC services to banks, custodians and exchanges. It competes with DFNS in the institutional wallet and staking-allocation space, while also offering adjacent node and validator services that complement rather than directly overlap DFNS's offering.
- Anchorage Digital: Anchorage Digital is a federally chartered digital asset bank offering qualified custody, staking, trading and wallet infrastructure for institutions. It overlaps with DFNS as a regulated custody and wallet provider for banks and asset managers, but operates its own bank charter and custody balance sheet rather than a pure non-custodial infrastructure model.
- Coinbase Prime: Coinbase Prime provides institutional custody, trading and financing for digital assets, and is also a seed investor in DFNS. While it competes broadly in the institutional wallet and custody market with a much larger balance sheet, it also integrates into DFNS as a liquidity and custody partner, illustrating an overlap-and-partner relationship.
Direct peers
- Fordefi: Fordefi is an institutional MPC wallet and DeFi connectivity platform built for funds, market makers and trading firms. It competes with DFNS in the high-throughput trading and DeFi segment (overlapping with Wintermute, Susquehanna and Kraken) and offers similar self-custodial MPC signing, policy controls and chain coverage.
- BitGo: BitGo provides qualified custody, hot and cold wallets, staking and trading infrastructure for institutions across many of the same chains DFNS supports. Both companies compete for banks, asset managers and exchanges needing regulated digital-asset custody plus wallet APIs, though BitGo also acts as a custodian whereas DFNS positions strictly as non-custodial infrastructure.
- Taurus: Taurus is a Swiss-based digital asset infrastructure platform offering custody, tokenization, trading and wallet services to banks and large institutions in Europe. It is the closest EU-headquartered competitor to DFNS in serving regulated banks with tokenization and custody workflows, with a similar architecture combining MPC wallets and governance tooling.
- Utila: Utila is an institutional crypto wallet and operations platform offering MPC-based wallets, policy controls, payments and on/off-ramps for fintechs, PSPs and exchanges. It targets many of the same customer segments as DFNS (payments, exchanges and fintechs) with a comparable non-custodial API-first architecture.
- Fireblocks: Fireblocks is the incumbent institutional digital asset wallet, custody and transaction infrastructure provider serving banks, exchanges, hedge funds and fintechs via MPC-based wallets. DFNS explicitly compares itself head-to-head with Fireblocks (publishing a migration playbook and 'Why DFNS over Fireblocks' content), targeting the same regulated customer base with overlapping MPC, policy and tokenization features.
Regional players
- Hex Trust: Hex Trust is an Asia-Pacific-headquartered institutional digital asset custodian and wallet infrastructure provider serving banks, asset managers and fintechs. It competes with DFNS in APAC and the Middle East (similar to Tungsten Custody, Zodia and DFNS's Hong Kong/UAE expansion) but with heavier geographic concentration in Asia.
Emerging players
- Turnkey: Turnkey is an emerging developer-focused wallet-as-a-service platform offering non-custodial embedded wallets with policy controls and threshold signing. It overlaps with DFNS's API-first, developer-led Wallet-as-a-Service motion but is earlier-stage and positioned more toward crypto-native builders than banks and core banking vendors.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights6 records
Customer concentration
Dfns social profiles
Digital presenceDfns compliance and trust
Trust signalCompliance7 records
Dfns financial estimates
Financial estimateRevenue estimate
Valuation estimate
Dfns leadership team
Management profileNumber of profiles
Profiles12 records
Dfns funding detail
Funding detailFunding overview
Funding rounds3 records
Investors23 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Dfns M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Dfns
What does Dfns do?
Dfns is a non-custodial core banking platform for digital assets that exposes a single REST API and SDKs to create, manage and sign wallets across 100+ blockchains, enforce governance policies, tokenize assets and orchestrate payments. The platform combines proprietary MPC protocols (CGGMP24, FROST, KU25) with optional HSM/TEE signers and a cryptographically enforced Policy Engine, deployed as SaaS, hybrid or fully on-premises for banks, fintechs, custodians, PSPs and governments.
Is Dfns a public or private company?
Dfns is a private company. It is classified as venture growth investor backed and is currently operating.
When was Dfns founded?
Dfns was founded in 2019. It employs 51 to 100 people.
Where is Dfns based?
Dfns is headquartered in Paris, France, in the Europe region.
How does Dfns make money?
Three revenue lines are on record. Subscription plans (annual / quarterly) is the primary driver. The others are usage-based overage (wallets and signatures) and enterprise / on-prem deployment and professional services.
Who are Dfns's main competitors?
Broad incumbents on record are Blockdaemon, Anchorage Digital and Coinbase Prime. Direct peers are Fordefi, BitGo, Taurus, Utila and Fireblocks. Hex Trust is listed as a regional player. Turnkey is listed as an emerging player.
Does Dfns have an API?
Yes. DFNS exposes a single REST API plus SDKs in TypeScript, Python, Go, and Java that let developers create and manage wallets across 100+ blockchains, sign and broadcast transactions, enforce governance policies, automate workflows via webhooks and service accounts, issue and service tokenized assets, integrate swaps/allocations/payments/exchanges, and run the full lifecycle of digital asset operations. The platform includes a 30-day sandbox on testnets, webhooks on every state change with idempotent delivery, OIDC/SAML/SSO add-ons, API rate limits by plan (60–1,000 req/min), and comprehensive developer documentation. Developer documentation is at docs.dfns.co.
What industry is Dfns in?
Dfns's product category is Digital Asset Custody Infrastructure. Its primary akta.pro industry code is FSAGAMAB, Digital Asset Custody & Key Management (MPC, HSM, Wallet Infra), with a secondary code of FSADACAD, Wallet Infrastructure (SDKs, Wallet-as-a-Service). Its NAICS code is 522320 and its SIC code is 6199.