Ctrl Walletthe multi-chain self-custody wallet solution is for sale, company CEO and founder Emile Dubie told CoinDesk in an exclusive interview.
The sale process was triggered after the company received two M&A approaches last year, Dubie said.
The wallet provider, formerly known as XDEFI, has received a takeover offer from a crypto protocol and also a strategy to merge with a large decentralized exchange (DEX).
The business subsequently contacted investment bankers to organize a sale process and Ctrl Wallet is being advised by Imperii Partners, Dubie added.
An auction process is underway with bids due on January 28., and a winning bidder is expected to be announced on January 31.
Ctrl Wallet currently has 650,000 users, with a goal of reaching over 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’s wallet. To be able to compete with these big players, the company needs a partner, someone who can invest in the business, Dubie said.
The company raised money in 2021 for $60 million.
