Exodus Acquires W3C Corp in $175 Million Deal to Integrate Crypto Payments In-House

Exodus Movement, a prominent crypto wallet provider, has unveiled plans to acquire W3C Corp, the parent company of Baanx and Monavate, in a $175 million deal. This strategic acquisition is aimed at transforming Exodus's crypto-to-payments capabilities by bringing card issuance, processing, and compliance infrastructure directly under its control, marking one of the company's largest moves to date.

The integration of W3C's technology will enable Exodus users to spend cryptocurrencies directly from their wallets using cards issued through major global networks, including Visa, Mastercard, and Discover. W3C's subsidiaries, Baanx and Monavate, already support digital asset card programs across the U.S., U.K., and E.U., providing Exodus with an immediate regulatory and operational foothold in these key markets. By internalizing these functions, Exodus aims to reduce reliance on third-party processors and streamline the user payment experience.

The acquisition is valued at $175 million, subject to standard adjustments, and will be financed through a combination of existing cash reserves and a credit facility backed by Bitcoin holdings via Galaxy Digital. The transaction remains subject to regulatory approval and is expected to close in 2026. This follows Exodus's recent purchase of Grateful, a stablecoin payments startup, collectively advancing the company toward a comprehensive global payments strategy that blends self-custody with real-world spending utility.