Exodus Movement, Inc. (NYSE: EXOD), a self-custodial cryptocurrency platform, announced it has entered into a definitive agreement to acquire W3C Corp, the parent entity of Monavate Holdings Ltd. and its subsidiaries (collectively, Monavate) and Baanx.com Ltd. and Baanx US Corp, two providers of card and payments infrastructure serving fintech, crypto, and enterprise clients.
The acquisition is subject to regulatory approvals.
Upon the closing of the acquisition, Exodus plans to enter the arena of on-chain payments to become one of the self-custodial wallets “to control the end-to-end payments experience, from wallets to cards.”
Monavate and Baanx bring “issuing, processing and regulatory” capabilities that Exodus expects to integrate into its consumer and enterprise product suite.
By way of this transaction, Exodus will assume ownership of the underlying card and payments stack, reducing dependence on third-party providers.
Exodus will be positioned to issue payment cards via networks like Visa, Mastercard, and Discover, while broadening its reach to “support products and partnerships across the US, UK, and the EU.”
JP Richardson, Co-Founder and Chief Executive Officer of Exodus said that people trust Exodus to hold their dollar stablecoins and crypto.
By bringing card and payments infrastructure in-house, they are “closing the gap between holding and spending.”
Giving businesses a way to spend and “store a selection of payment stablecoins allows the company to capitalize on consumer demand.”
Stablecoin payment volumes increased by “70% from February to August 2025, with nearly two-thirds of the volume driven by B2B payments.”
James Gernetzke, Chief Financial Officer of Exodus said these offerings will diversify revenue streams as they help build a recurring earnings base aligned with “everyday use of digital dollars, while continuing to allow Exodus to take advantage of the volatility of crypto markets.”
The infrastructure is expected to expand the capabilities “for enterprise clients whose customers transact through XO Swap.”
XO Swap customers will be able to add Baanx and Monavate capabilities for flexible payments solutions “like embedded programmable payouts and turnkey card issuance.”
Enabling partnerships with MetaMask and Ledger, XO Swap accounted for 37% of exchange provider volume in Oct 2025, “a percentage which remained steady from September.”
The announcement follows Exodus’ acquisition of LATAM-based Grateful, a stablecoin payments orchestrator that “extends its reach in stablecoin-powered payments.”
This series of acquisitions will equip Exodus with the rails “to roll out modern payment products for both consumers and merchants.”