Ctrl Wallet, the multi-chain self-custody wallet solution is for sale, company CEO and founder Emile Dubie told CoinDesk in an exclusive interview.
The sale process began after the company received two M&A proposals late last year, Dubie said.
The wallet provider, formerly known as XDEFI, has received an offer to acquire a crypto protocol and also an approach to merge with a large decentralized exchange (DEX).
The company later hired investment bankers to organize a sales process and Imperii Partners is advising Ctrl Wallet, Dubie added.
An auction process is underway with bids due by January 28 and the winning bidder expected to be announced by January 31.
Ctrl Wallet currently has 650,000 users, with the 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. To compete with these larger players, the company needs a partner, someone who can invest in the business, Dubie said.
The company raised money in 2021 at a valuation of $60 million.
