Exodus Aims to Be Crypto's 'One-Stop Shop' with $175M Payments Push

Exodus Movement (NYSE: EXOD) is leveraging its Bitcoin reserves to finance a $175 million acquisition of W3C Corp, a move that will integrate the payment infrastructure providers Monavate and Baanx into its self-custodial wallet platform, marking a strategic pivot into onchain payments. The NYSE-listed firm aims to become one of the few platforms to control the entire payments stack, from crypto storage to card issuance, by bringing card and processing capabilities in-house. CEO JP Richardson emphasized that the acquisition closes the gap between holding and spending digital assets, positioning Exodus as a "one-stop platform for money".

The deal, expected to close in 2026, will be funded through cash reserves and a loan secured by Exodus's Bitcoin holdings via its credit facility with Galaxy Digital. The company has already loaned $58.8 million to W3C to facilitate its acquisition of Monavate and Baanx and may extend an additional $10 million for working capital. This financial structure underscores Exodus's confidence in its crypto collateral and aligns with broader industry trends of institutional players using digital assets as liquidity tools.

By integrating Monavate and Baanx's issuing, processing, and compliance tools, Exodus plans to reduce reliance on third-party vendors and expand support for stablecoins like USDC and EURC. The move also opens revenue streams from interchange and processing fees, which CFO James Gernetzke described as "foundational to our payments and transaction services business". The company anticipates issuing cards via Visa, Mastercard, and Discover, further bridging the gap between traditional finance and crypto ecosystems.

By integrating Monavate and Baanx's issuing, processing, and compliance tools, Exodus plans to reduce reliance on third-party vendors and expand support for stablecoins like USDC and EURC. The move also opens revenue streams from interchange and processing fees, which CFO James Gernetzke described as "foundational to our payments and transaction services business". The company anticipates issuing cards via Visa, Mastercard, and Discover, further bridging the gap between traditional finance and crypto ecosystems.

The acquisition follows Exodus's recent purchase of Grateful, a Latin American stablecoin payments firm, underscoring its aggressive expansion in the sector. Stablecoin payment volumes surged 70% between February and August 2025, with B2B transactions driving two-thirds of the growth, according to internal data. This aligns with broader industry momentum, as major players like Visa and SWIFT explore blockchain-based solutions for cross-border payments https://cointelegraph.com/news/exodus-taps-bitcoin-holdings-to-fund-175m-move-into-onchain-payments.

Exodus's shares rose 3.6% on the news, reflecting investor optimism despite a 51% year-to-date decline in stock price. The company's strategy to "diversify revenue streams" through recurring transaction fees and expand geographic reach to the U.S., U.K., and EU positions it to capitalize on the growing demand for crypto-enabled payments https://www.exodus.com/investors/news-events/press-releases/detail/91/exodus-enters-next-phase-as-a-crypto-payments-company-with-agreement-to-acquire-w3c-corp-and-its-subsidiaries-baanx-and-monavate.