Exodus Movement (EXOD), a U.S.-listed cryptocurrency wallet company, announced on Monday that it has acquired Grateful, a Uruguay-based startup providing stablecoin payment tools for merchants, as part of its expansion into Latin America. The deal will integrate Grateful's software into Exodus's self-custody wallet platform, enabling businesses to accept stablecoins through wallet-to-wallet transactions, QR-based point-of-sale checkout, and on-chain invoicing. Merchants can also track settlements and convert digital assets into local currencies via a unified dashboard.
Exodus plans to incorporate these functions across its ecosystem, which supports blockchains including Solana and Arbitrum. CEO JP Richardson stated, "Grateful is a natural complement for our efforts to expand access to digital payments and cryptocurrency in Latin America. The gig and creator economy is rapidly growing in emerging markets, and stablecoin-based payment rails enable invoicing, recurring payments, and on-chain settlements."
The acquisition aligns with a broader industry push to embed stablecoins into payment networks, with stablecoin transactions projected to reach $1 trillion annually by 2030, according to estimates from Keyrock and Bitso. This follows similar moves, such as Stripe's acquisition of stablecoin technology provider Bridge and wallet firm Privy, and the XDC Network's purchase of Contour for trade finance solutions.
In April, Exodus partnered with Mastercard and Baanx to launch a crypto debit card allowing users to spend Tether's USDT and other assets, and the Grateful acquisition complements this by providing merchants with a ready-made system to accept these digital currencies at the point of sale. Latin America has emerged as a key market for stablecoin adoption, driven by volatile local currencies and high remittance costs, with platforms like Bitso and Circle reporting steady growth in USDC and USDT volumes across Argentina, Brazil, and Mexico.
Market reaction was positive, with Exodus shares rising about 5% on Monday, outperforming broader digital asset stocks amid Bitcoin climbing past $105,000. The company's stock has gained nearly 20% year-to-date. Financial terms were not disclosed, but the deal involves a mix of cash and stock and is expected to close later this quarter, pending regulatory reviews in Uruguay and the United States. Grateful's founding team will join Exodus to lead its Latin American operations, with the long-term goal of making Exodus a "one-stop interface" for digital asset holding, payments, and earnings.
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