Ctrl Wallet, the multi-chain self-custodial wallet solution is on sale, the company’s CEO and founder Emile Dubie told CoinDesk in an exclusive interview.
The sales process was triggered after the company received two M&A approaches late last year, Dubie said.
The wallet provider, formerly known as XDEFI, has received a buyout offer from a crypto protocol as well as an approach to merge with a large decentralized exchange (DEX).
The company then hired investment bankers to organize a sales process and Ctrl Wallet is advised by Imperii Partners, Dubie added.
An auction process is underway with bids expected by January 28, and the winning bidder is expected to be announced by January 31.
Ctrl Wallet currently has 650,000 users, with a goal of reaching more than 2 million by the end of the year, the CEO said.
The company’s main competitors are Coinbase Wallet, Binance’s Trust Wallet, and OKX wallet. To be able to compete with these larger players, the company needs a partner, someone who can invest in the business, Dubie said.
The company raised funding in 2021 at a valuation of $60 million.
