Exodus Utilises Bitcoin Loan for Acquisition of Baanx and Monavate

Exodus Movement to acquire W3C Corp, Baanx, and Monavate for $175 million.

The developer of the non-custodial wallet, Exodus Movement, has agreed to purchase W3C Corp and its subsidiaries, Baanx and Monavate. The deal is valued at $175 million.

To finance the acquisition, the company will use its own cash reserves and a bitcoin-backed credit line from Galaxy Digital. Exodus Movement has already provided W3C with a loan of $58.8 million and may allocate an additional $10 million for working capital.

The acquisition will enable the company to establish a comprehensive payment solution stack from wallet to card. Exodus will be able to issue “plastic” in the Visa, Mastercard, and Discover networks, and expand its presence in the US, UK, and EU.

The deal is expected to close in 2026, pending regulatory approval. Upon completion, users will be able to spend cryptocurrencies and stablecoins directly through the wallet’s infrastructure.

Exodus CEO JP Richardson stated that integrating its own payment system will bridge the gap between storing and using digital assets.

Previously, Exodus acquired the startup Grateful to expand into the Latin American market.

Following the announcement of the new deal, the company’s shares rose by 3.62% to $15.18.

Financial Indicators

The company anticipates diversifying its revenue through interchange and processing fees. This will create a stable cash flow, independent of cryptocurrency market volatility.

The decision is also based on market statistics: from February to August 2025, the volume of payments in “stablecoins” increased by 70%. Two-thirds of transactions were in the B2B sector.

The new infrastructure will also be available to corporate clients through the XO Swap service, which accounted for 37% of the provider’s total exchange operations in October 2025.

Back in December 18, 2024, trading of Exodus Movement shares commenced under the ticker EXOD.