Crypto Wallet Firm Exodus Buys Baanx and Monavate for $175M
Exodus is acquiring Baanx and Monavate's parent company, W3C Corp, for $175 million to expand its crypto payment capabilities.Summary
Cryptocurrency wallet firm Exodus Movement (NYSE American: EXOD) has announced the acquisition of W3C Corp, the parent company of crypto card and payments firms Baanx and Monavate, for $175 million. The deal, funded by cash on hand and financing from Galaxy Digital secured by Exodus’ Bitcoin holdings, aims to position Exodus as a leading self-custodial wallet with end-to-end payment control. This acquisition will allow Exodus to issue payment cards via major networks like Visa, Mastercard, and Discover, expanding its reach across the U.S., UK, and EU. The move follows Exodus’ recent acquisition of Grateful, a stablecoin payments orchestrator, and is expected to diversify revenue streams through interchange, processing, and program fees. Exodus CEO JP Richardson stated the acquisition is a significant step towards making self-custody and crypto payments practical for everyday use, bridging the gap between holding and spending digital assets. The deal is expected to close in 2026.
(Source：CoinDesk)