Ctrl Wallet, the multi-chain self-deposit 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 late last year, Dubie said.

The wallet provider, formerly known as XDEFI, received a takeover offer from a crypto protocol and also an approach to merge with a major decentralized exchange (DEX).

The company has subsequently engaged 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 by January 28th, and a winning bidder is expected to be announced on January 31st.

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 compete with these bigger players, the company needs a partner, someone who can invest in the company, Dubie said.

The company raised money in 2021 worth $60 million.