Exodus Movement Acquires W3C Corp to Strengthen Self-Custody Crypto Payments Ecosystem

Exodus Movement (NYSE American: EXOD), a leading self-custodial cryptocurrency wallet provider, has announced a major step forward in its payments strategy with the $175 million acquisition of W3C Corp, the parent company behind crypto card innovators Baanx and Monavate. The deal, funded through a mix of cash reserves and financing from Galaxy Digital secured by Exodus’ Bitcoin holdings, positions the company to significantly expand its global payments footprint.

Baanx and Monavate have built strong reputations in the crypto payments space through partnerships with Visa, Mastercard, and MetaMask, developing secure Web3 payments and crypto card infrastructure. By bringing this technology in-house, Exodus aims to become one of the few self-custodial wallet platforms offering a complete end-to-end payments experience—from storing digital assets to spending them seamlessly.

With this acquisition, Exodus gains full ownership of the underlying card issuance and payments stack, enabling the firm to launch payment cards across networks like Visa, Mastercard, and Discover. The move also advances the company’s expansion into the U.S., UK, and EU, opening doors for new products, partnerships, and enterprise integrations, including enhanced support for customers using the XO Swap application.

Exodus CEO JP Richardson highlighted the company’s mission to make crypto payments practical for everyday use, emphasizing that integrating payments infrastructure bridges the gap between holding and spending digital assets. The acquisition follows Exodus’ recent purchase of Grateful, a stablecoin payments orchestrator in LATAM, further solidifying its position in the digital payments sector.

According to CFO James Gernetzke, revenue from interchange, processing, and program fees will play a central role in building a more stable, recurring earnings model aligned with the growing use of digital dollars. The transaction is expected to close in 2026, pending regulatory approvals, marking a transformative milestone for Exodus as it competes in the rapidly evolving crypto payments landscape.