Exodus Agrees to Acquire W3C Corp in Deal Valued at $175 Million
By Terell Wright
Exodus Movement said it agreed to acquire W3C Corp, the parent entity of card and payments infrastructure providers Monavate and Baanx, in a deal valued at $175 million.
The cryptocurrency fintech company said on Monday the acquisition of W3C aims to integrate card and payment infrastructure directly into Exodus's self-custodial cryptocurrency platform.
By bringing issuing and processing in-house, Exodus will reduce reliance on third parties and support stablecoins across the U.S., U.K. and E.U., the company said.
Exodus Chief Executive Officer JP Richardson said the deal is a major step toward making self-custody and crypto payments practical for everyday life.
The infrastructure is expected to provide new revenue streams from interchange and processing fees, diversifying earnings.
Exodus said it plans to fund the $175 million purchase price with cash on hand and financing from a credit facility secured by its Bitcoin holdings, pending regulatory approvals.
This is the company's second acquisition this month. Exodus agreed to buy Grateful, a stablecoin payments orchestrator for merchants on Nov. 10.
Shares rose 4% to $15.18 in after-hours trading, though the stock is down 51% year-to-date.
Write to Terell Wright at terell.wright@wsj.com
(END) Dow Jones Newswires
November 24, 2025 16:54 ET (21:54 GMT)
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