Crypto wallet provider Exodus Movement has unveiled plans to acquire W3C Corp, the parent company behind Baanx and Monavate, in a $175 million deal designed to transform its crypto-to-payments capabilities. The acquisition brings card issuance, processing, and compliance infrastructure directly under Exodus’s control, marking one of the company’s largest strategic moves to date.
Building an End-to-End Crypto Payments Stack
The acquisition will allow Exodus to integrate W3C’s card-issuing and payment processing technology into its wallet ecosystem. This means users will eventually be able to spend crypto directly from their Exodus wallets with 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., giving Exodus an immediate regulatory and operational presence in multiple key markets. By internalizing these capabilities, the company aims to cut reliance on third-party processors and streamline user payment experiences.
Deal Terms and Funding
Exodus valued the acquisition at $175 million, subject to standard adjustments. To finance the purchase, the company will use a mix of existing cash reserves and a credit facility backed by its Bitcoin holdings through Galaxy Digital. The transaction remains subject to regulatory approval and is expected to close sometime in 2026.
Expanding Payments Vision
This is Exodus’s second major payments-oriented acquisition in recent months, following its purchase of Grateful, a stablecoin payments startup based in Uruguay. The two deals collectively move Exodus closer to a comprehensive global payments strategy that blends self-custody with real-world spending utility.
Once completed, the acquisition will position Exodus among a small group of crypto companies building their own regulated, vertically integrated payments rails, a significant step toward mainstream adoption of crypto spending.
