Exodus Expands Into Payments with $175M Acquisition of W3C Corp

TLDR:

• Exodus acquires W3C Corp, advancing on-chain payments with Bitcoin backing.
• Exodus boosts on-chain payments, acquiring Monavate and Baanx for $175M.
• Exodus strengthens payment tools with $175M W3C acquisition backed by Bitcoin.
• Exodus moves into on-chain payments, acquiring Monavate and Baanx for $175M.
• Exodus uses Bitcoin reserves for $175M deal to enhance payment systems.

Exodus Movement, Inc. (EXOD) has announced a $175 million deal to acquire W3C Corp, the parent company of Monavate and Baanx. This acquisition marks a significant shift in Exodus’s strategy, as it pushes into on-chain payments. The move, backed by Bitcoin reserves, positions Exodus to control the entire payments stack, from crypto storage to card issuance.

The company plans to integrate card issuing, processing, and compliance tools directly into its consumer and enterprise offerings. This reduces reliance on third-party vendors and expands the range of assets Exodus can support, including major stablecoins. Exodus aims to become a one-stop platform for both storing and spending crypto.

Using Bitcoin Reserves to Finance the Acquisition

To fund the $175 million acquisition, Exodus will utilize cash reserves and a loan secured by its Bitcoin holdings. Exodus has already loaned $58.8 million to W3C as part of the deal and may extend an additional $10 million for working capital. The company also plans to use its credit facility with Galaxy Digital to close the transaction.

By integrating Monavate and Baanx’s payment infrastructure, Exodus will have the capability to issue cards through major networks such as Visa, Mastercard and Discover. This move strengthens Exodus’s position in the fast-growing on-chain payments sector, offering greater flexibility to users.

“The economics from interchange, processing and program fees are expected to become a foundational part of our payments and transaction services business,” said James Gernetzke, CFO of Exodus. This acquisition will boost Exodus’s efforts to reduce its dependence on third-party vendors and further solidify its role in the crypto payments space.

Exodus Strengthens Payment Tools with Monavate and Baanx Integration

Exodus’s acquisition of Monavate and Baanx enables the company to integrate advanced payment tools directly into its services. XO Swap, Exodus’s on-chain exchange aggregator, will benefit from these tools, enhancing its ability to process programmable payouts and offer turnkey card issuance solutions. The integration will allow Exodus to provide a more seamless and comprehensive payment experience to its users.

The acquisition builds on Exodus’s earlier purchase of the LATAM-based stablecoin payments startup Grateful. Exodus continues to strengthen its position in the crypto payment ecosystem, offering greater capabilities for both individual and enterprise customers. The acquisition is expected to close in 2026, further expanding Exodus’s presence in the crypto payments space.

Exodus’s move follows a broader trend in the financial sector, with payment networks like Visa and Swift embracing stablecoins for faster, blockchain-based settlements. By securing these capabilities, Exodus is well-positioned to lead in the rapidly evolving crypto payment market.

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