Exodus Acquires W3C Corp, Strengthening Its Position in Crypto Payments
Date: 2025-11-26 Author: Gabriel Deangelo Categories: BUSINESS
Crypto wallet developer Exodus announced it has signed an agreement to acquire W3C Corp, the owner of Monavate and Baanx. Following the acquisition, the company plans to become a full-fledged crypto payment platform with a closed-loop transaction processing system. The acquisition of the two payment infrastructure providers will allow it to integrate their functionality into its own ecosystem and reduce its dependence on third-party services.
Baanx is known for its partnerships with Mastercard and Visa, while Monavate specializes in card and payment processing. By combining resources, Exodus will be able to issue cards on the Visa, Mastercard, and Discover networks and expand its geographic presence in the US, UK, and EU markets. The integration of both companies will also provide support for a wide range of assets, including popular stablecoins.
Exodus co-founder and CEO J.P. Richardson emphasized the company's goal to make storing and using cryptocurrency as convenient as possible for everyday payments. He noted that the new infrastructure will bridge the gap between storing and spending funds, transforming Exodus into a universal financial management platform.
Demand for stablecoins is growing: from February to August 2025, stablecoin payment volume increased by 70%, with almost two-thirds of this turnover coming from the B2B segment. Exodus CFO James Gernecke added that the new services will ensure more stable revenue while preserving the benefits of the volatile crypto market. Stablecoin market capitalization recently exceeded $300 billion, and Goldman Sachs experts predict further growth to trillions of dollars.
After the implementation of the Monavate and Baanx infrastructure, XO Swap's corporate clients will be able to enable programmable payouts and launch their own card products. In October 2025, XO Swap accounted for 37% of the volume among exchange service providers, and partnerships with MetaMask and Ledger strengthened the platform's market position.
Earlier this year, Exodus acquired the Latin American startup Grateful, which, together with the acquisition of W3C Corp, creates the foundation for launching modern crypto payment solutions for the mass and enterprise markets. The deal will be financed with $175 million from the company's own funds and a credit line from Galaxy Digital, secured by Exodus's Bitcoin. The transaction is expected to close in 2026, subject to regulatory approvals.
Exodus has already provided W3C with a $58.8 million loan to finance the acquisition of Monavate and Baanx, with the option to finance up to $10 million in additional financing in the event of a breach of the agreement. The company previously became the first American organization to tokenize its shares on the blockchain, listing on the NYSE American under the ticker EXOD. In May 2025, a Mastercard crypto debit card was introduced in partnership with Baanx, available in USDT and USDC stablecoins, with a mass launch planned for the end of 2025.
