Exodus Acquires W3C Corp for $175M to Expand Global On-Chain Payments
Crypto wallet provider Exodus Movement, Inc. has a $175 million acquisition of W3C Corp, including its subsidiaries Baanx and Monavate, in a move to expand into regulated on-chain payments.
The acquisition gives Exodus control over the full payments stack, from wallets to card issuance and processing, allowing it to issue cards on Visa, Mastercard, and Discover networks and support stablecoin-based payments globally.
“Today’s announcement is a major step in our mission to make self-custody and crypto payments practical for everyday life,” said JP Richardson, Co-Founder and CEO of Exodus.
“People already trust Exodus to hold their dollar stablecoins and crypto. By bringing card and payments infrastructure in-house, we are closing the gap between holding and spending, and positioning Exodus as the only platform you need for your money.”
“The economics from interchange, processing and program fees are expected to become a foundational part of our payments business,” added James Gernetzke, CFO of Exodus. “These offerings will diversify our revenue streams while continuing to allow Exodus to take advantage of crypto market volatility.”
The acquisition will be funded through a combination of cash reserves and a BTC-backed credit facility, and is expected to close in 2026, pending regulatory approval.
The deal could be a strategic move to diversify revenue beyond wallet and swap services and tap into the growing demand for crypto-native payment answers.
Exodus Builds a Complete Crypto Payments Ecosystem Through Strategic Acquisitions
Exodus has been on an acquisition streak to expand its payments capabilities. Just weeks ago, it across Latin America, and now the W3C deal adds card issuance, processing, and on-chain payment infrastructure under the identical umbrella.
Together, these acquisitions give Exodus the ability to seamlessly bridge holding digital assets, executing stablecoin transactions, and spending via crypto-backed cards — creating a more comprehensive payments ecosystem.
The move echoes broader industry trends, such as credit card with American Express, which allows users to earn BTC on everyday purchases.
As more crypto platforms explore card-based rewards and payment integrations, Exodus’ strategy suggests it aims to capture a growing market of users looking to directly spend digital assets while leveraging stablecoins for everyday transactions.
