Ctrl Wallet Explores Acquisition to Scale

Ctrl Wallet, previously known as XDEFI, is pursuing an acquisition to enhance its growth potential.

“After nearly 5 years of building Ctrl Wallet, we’ve made the decision to explore opportunities for the company through an acquisition,” stated founder and CEO Emile Dubie on the social media platform X on Thursday.

He emphasized that although Ctrl Wallet is regarded as the best multi-chain wallet, achieving significant scale requires substantial backing and support from a suitable partner capable of unlocking new distribution channels.

Ctrl Wallet is currently undergoing a sales process, with a decision on the winning bidder expected by January 31, as reported by CoinDesk in an exclusive interview with Dubie. The firm has received a takeover offer along with a merger proposal from a major decentralized exchange.

In 2021, Ctrl Wallet raised $6 million in Series A funding led by Mechanism Capital, bringing its total fundraising to $7.2 million, according to The Block.