Ctrl Wallet, a leading self-custody digital wallet provider, is actively exploring acquisition opportunities to scale its operations, CEO and founder Emile Dubie announced.

The company, formerly known as XDEFI, is in the midst of a sales process, with a final decision on the winning bidder expected by Jan. 31, according to a report by CoinDesk.

In a post shared on X, Dubie reflected on the decision, calling it “one of the toughest choices” to make. 

“After nearly five years of building Ctrl Wallet, we’ve made the decision to explore opportunities for the company through an acquisition,” Dubie wrote. 

Ctrl Wallet’s success

Dubie emphasized that while Ctrl Wallet has achieved significant milestones, including becoming the highest-rated multi-chain wallet in the Chrome Store with over 650,000 users, scaling to compete with larger players requires substantial backing.

“Our wallet remains the only product offering full gas abstraction with USDC payments, social logins, and a portfolio tracker across such a wide range of chains,” Dubie added, highlighting the firm’s innovations. Despite its achievements, Dubie explained that the right partner could unlock new distribution channels and elevate the company’s growth trajectory.

Ctrl Wallet has received both a takeover offer and a merger proposal from a major decentralized exchange. Dubie has also called on industry contacts and community members to help connect Ctrl Wallet with potential partners aligned with its mission.