Exodus Acquires W3C to Expand Crypto Payments Ecosystem

Highlights:

• Exodus has acquired W3C for the integration of Monavate and Baanx into its ecosystem.
• The acquisition, worth $175 million, enhances the capacity of Exodus to process stablecoin payments globally.
• The expansion is part of the large-scale growth of Exodus in on-chain payment solutions.

Exodus, a leading provider of self-custodial crypto wallets, has made a deal to acquire W3C Corp for $175 million. With this acquisition, the company goes one step further towards the on-chain payments sector. Under the agreement, Exodus will take over Monavate and Baanx, which are the two major companies in the crypto card and payment infrastructure, through the deal.

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Strengthening Crypto Payment Ecosystem

Through the acquisition of W3C, Exodus takes a giant step towards becoming a leader in the self-custodial wallet space. The addition of Monavate and Baanx will not only allow the company to accept payments through various channels but also support the firm’s offer of end-to-end payment solutions.

This move not only reduces Exodus’ dependence on third-party providers for card issuing, processing, and regulatory functions but also enlarges the company’s geographic footprint, thus supporting payment solutions in areas such as the U.S., U.K., and EU.

The next era of Exodus is here.

Self-custody, meet payments.

Today, Exodus announced that we’ve entered into a definitive agreement to acquire W3C Corp, parent of @Monavate_News and certain Baanx entities formerly owned by the @BaanxGroup.

With this transaction, we’re powering… pic.twitter.com/rTe7GlusYp

— Exodus (@exodus) November 24, 2025

Exodus CEO JP Richardson said that this acquisition would help them meet their goal of bringing self-custody and crypto payments into everyday life.

Richardson stated:

“By in-sourcing card and payments infrastructure, we are bridging the gap between holding and spending.”

The shift is also considered to be a positive factor for Exodus’ stablecoin handling capacity. The stablecoin market is seen as the next big thing in the payments industry. The use of stablecoins for transactions has risen, with volumes up by 70% between February and August 2025. Moreover, among the drivers of this increase are B2B payments, an area Exodus plans to offer more flexible solutions.

Impact on Business and Revenue Generation

Exodus is looking forward to the infrastructure redesign being a factor to enhance the user experience. Moreover, it will be a source of new revenue. The CFO of Exodus, James Gernetzke, expressed optimism regarding the move. He noted that the integration of Baanx and Monavate’s features would lead to the creation of a more stable and determined earnings model. The company aims to derive income from the interchange, processing, and program fees. This will consequently serve as an adjunct to its existing business model.

Enterprise clients will also gain new capabilities in Exodus. Baanx and Monavate will be integrated into XO Swap, a key service that facilitates crypto-to-crypto swaps. This integration opens up new possibilities of embedded payments and turnkey card issuance. Clients such as MetaMask and Ledger will use this.

Furthermore, Exodus’s acquiring W3C coincides with other large payment networks worldwide, such as Visa, pushing into the crypto arena. Recently, Visa unveiled a pilot project by which stablecoin payments can be made to creators and freelancers.

Financing and Future Outlook

Galaxy Digital will finance the $175 million acquisition using a mix of cash reserves and Bitcoin-backed financing from Exodus. This new strategy demonstrates the commitment of the company to use its crypto assets to increase its strategic growth.

The transaction also involves a loan of about $58.8 million to W3C to aid in the purchase of Monavate and Baanx. Further funding can be offered to facilitate the working capital requirements of W3C. The deal is set to be closed in 2026, subject to regulatory approval. The acquisition is an addition to the overall strategy of the firm in increasing its presence in the expanding stablecoin payment ecosystem. The firm recently expanded its footprint in Latin American operations by acquiring Grateful, a payment orchestrator focusing on stablecoin-powered solutions.

10 years into @Exodus. We’re just getting started.

Highlights from yesterday's Q3 earnings:

Big news: we acquired Grateful to make stablecoin payments simpler for both consumers and merchants.

– $30.3M revenue (+51% YoY)
– $1.75B swap volume (+82% YoY)
– 1.8M funded customers… pic.twitter.com/zj32ltZKW8

— JP Richardson (@jprichardson) November 11, 2025

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