Crypto Sensation Ctrl Wallet Hits the Market: Bids Closing Soon!

by

What to know:

  • Ctrl Wallet is up for sale after having received two M&A approaches last year.
  • The self-custody wallet is in an auction process with bids due by Jan. 28.

The multi-chain self-custody digital wallet known as Ctrl Wallet is being offered for purchase, according to its CEO and founder, Emile Dubie, in an exclusive conversation with CoinDesk.

Last year towards the end, our company initiated the sales process following the arrival of two Merger & Acquisition proposals, as stated by Dubie.

The company that manages digital wallets, previously called XDEFI, has received a buyout proposal from a cryptocurrency protocol and a proposal for merger with a prominent decentralized exchange (DEX) as well.

Afterward, the company enlisted financial advisors (investment bankers) to manage the selling process. Meanwhile, Ctrl Wallet is receiving counsel from Imperii Partners, as stated by Dubie.

As a researcher, I’m currently engaged in an ongoing auction where all bids must be submitted no later than January 28th. It is anticipated that the successful bidder will be declared by January 31st.

At present, our platform, ControlWallet, boasts approximately 650,000 users. Our aim is to surpass the 2 million mark by the end of this year, as stated by our chief executive.

The primary rivals of our company are Coinbase Wallet, Binance‘s Trust Wallet, and OKX’s wallet. In order to hold our own against these bigger entities, we require a collaborator – an investor who can bolster our business, as per Dubie’s statement.

The company raised money in 2021 at a valuation of $60 million.

Read More

2025-01-16 19:08