Wallet provider Exodus acquires W3C for $175 million to expand crypto payments stack
Exodus Movement is acquiring W3C Corp, including Baanx and Monavate, for $175 million to build an end-to-end crypto payments infrastructure.Summary
Self-custody wallet company Exodus Movement has agreed to acquire W3C Corp and its subsidiaries, Baanx and Monavate, for $175 million to significantly expand into crypto payments infrastructure. This deal, which is subject to regulatory approval and expected to close in 2026, will allow Exodus to build an end-to-end payments stack, enabling users to directly spend crypto, including stablecoins, using proprietary payment rails.
The acquisition will also permit Exodus to issue payment cards through major networks like Visa, Mastercard, and Discover, broadening its presence across the U.S., UK, and EU. CEO JP Richardson stated the move closes the gap between holding and spending crypto assets. Exodus plans to finance the purchase using existing cash reserves and its bitcoin-secured credit facility with Galaxy Digital, following a recent acquisition of stablecoin payments startup Grateful.
(Source：The Block)