Exodus Wallet Developer to List on NYSE

On May 9, Exodus Movement, a company specializing in custodial software development, will list its shares on the New York Stock Exchange (NYSE) under the ticker EXOD.

Big news!

Exodus stock $EXOD starts trading on the NYSE American this Thursday, May 9th.

This significant milestone paves the way to creating long-term value for our investors by expanding our global shareholder base and boosting stock liquidity.

LFG!

— JP (Exodus) (@jprichardson) May 6, 2024

“This significant milestone paves the way to creating long-term value for our investors by expanding our global shareholder base and boosting liquidity,” stated the firm’s CEO, J.P. Richardson.

EXOD is certified by the U.S. Securities and Exchange Commission (SEC) and can also be traded on the NYSE American. 

Regulatory qualification means the company has received permission to offer and sell Class A “common stock.” The nominal value of one unit of the asset will be $0.000001. 

Exodus securities, currently traded on the OTCQX platform, will remain available there until May 8. 

In a conversation with Decrypt, Richardson noted that the company’s shares are tokenized on the Algorand blockchain. This makes Exodus the only public crypto firm in the U.S. whose securities are traded on both traditional and blockchain platforms.

According to the CEO, the tokenization of EXOD simplifies and accelerates trading for investors. Among the benefits, he highlighted the possibility of “USDC dividends” and “on-chain voting within corporate governance.”

Despite strict SEC measures regarding cryptocurrencies, Richardson expressed optimism about the future of publicly traded digital assets:

“We want to see a future where traditional stocks are ultimately based on blockchain. I think that’s what’s so great about all our hard work.”

Founded in 2015, Exodus developed the eponymous bitcoin wallet. In 2021, the company went public, conducting a $75 million token sale and listing shares with broker-dealer tZERO. 

In January, co-issuer of the USDC stablecoin, Circle Internet Financial, confidentially filed for an IPO in the U.S. as part of its plan to become a public company. 

In February, the crypto-friendly investment platform eToro also considered conducting an IPO.