Paxos
Paxos announced on Tuesday that it has acquired Fordefi as part of a push to broaden its custody offerings for institutional clients. The deal brings Fordefi’s custody technology and team into Paxos’ regulated infrastructure.
Paxos CEO Charles Cascarilla told the Federal Reserve’s Payments Innovation Conference that stablecoins have the potential to disrupt and reshape global payments. His remarks framed the technology as a driver of faster, cheaper cross-border transfers and deeper engagement between industry and regulators.
Citi Ventures has strategically invested in BVNK to help scale its stablecoin infrastructure worldwide. With BVNK already processing $15 billion in annualized transactions and plans to expand stablecoin payments across all 50 U.S. states, this partnership highlights the growing adoption of stablecoins in business transactions.