Skip to main content

Fordefi

Category: AI in Fintech

Institutional multi-party computation (MPC) wallet and security platform built for decentralized finance (DeFi), enabling secure self-custody of private keys and seamless integration with decentralized applications. Fordefi was founded in 2021. The company is led by Josh Schwartz. Based in New York, USA (with additional offices in Tel Aviv, Israel). Team size: 40-50. Total funding raised: $28 million. Latest round: Seed Extension ($10 million in February 2024). Key investors include Lightspeed Venture Partners, Electric Capital, Pantera Capital, PayPal Ventures, Alameda Research.

Founded
2021
Headquarters
New York, USA (with additional offices in Tel Aviv, Israel)
Team size
40-50
Total funding
$28 million

Value proposition

Provides institutional-grade security through MPC wallet technology, real-time smart contract analysis, and policy-controlled transaction workflows to mitigate DeFi risks while enabling seamless on-chain participation

Products and solutions

MPC wallet infrastructure for institutional custody, Self-serve DeFi policy engine, Time-of-transaction smart contract insights, Transaction simulation & risk alert systems, Blockchain integration gateway for DeFi applications

Unique value

First institutional MPC wallet platform specifically architected for DeFi operations, combining cryptographic security with real-time blockchain analytics

Target customer

Institutional investors, DeFi trading firms, custodians, and blockchain-based financial institutions

Industries served

Decentralized Finance (DeFi), Blockchain Infrastructure, Digital Asset Custody, Institutional Crypto Trading, Web3 Enterprise Solutions

Technology advantage

Patent-pending multi-party computation architecture enables key management without single points of failure, combined with institutional-grade policy controls and cross-chain DeFi execution capabilities

How they differentiate

Fordefi specializes in institutional-grade multi-party computation (MPC) wallets tailored for DeFi security, offering advanced policy engines and cross-chain asset management. Its focus on institutional clients with non-custodial security and partnerships with DeFi protocols differentiates it from competitors.

Main competitors

Paxos, Fireblocks, Qredo, BTSE

Key partnerships

Paxos (2025 acquisition and infrastructure integration), StarkWare (StarkEx scalability engine integration), BlockFills (DeFi trading execution partnership), DeFiance Capital (institutional custody client), Leading custodial banks (unnamed institutional partners)

Notable customers

Keyrock (digital asset market maker), Ouroboros Capital (crypto hedge fund), Pantera Capital, DeFiance Capital, BlockFills, MEV Capital

Major milestones

Acquired by Paxos for over $100 million (November 2025), Raised $18 million in Seed round (2022), Partnered with BlockFills, dlcBTC, and Hexagate to expand DeFi ecosystem (2025), Achieved SOC 2 Type II certification, Integrated with StarkEx scalability engine

Growth metrics

Serves nearly 300 financial institutions with monthly transaction volumes exceeding $120 billion

Market positioning

Fordefi is positioned as a leader in institutional DeFi custody and security, targeting enterprises and institutional traders requiring secure, scalable solutions for on-chain operations. The acquisition by Paxos underscores its strategic value in expanding custody infrastructure.

Geographic focus

Primarily New York, USA, with expansion into global markets via partnerships (e.g., Abu Dhabi Global Market regulation).

Patents and IP

No publicly disclosed patents identified, but utilizes proprietary MPC protocols developed by Bar-Ilan University-affiliated cryptographers on founding team

About Josh Schwartz

Former COO at Curv (acquired by PayPal in 2021), Former VP of Sales at BitGo, Former Global Head of New Business Development at Bloomberg Tradebook, Former leadership roles at Cantor Fitzgerald and eSpeed Inc.

Official website: