Key Highlights
- Exodus plans a deeper push into global crypto payments by acquiring W3C Corp, aiming to manage every part of on-chain transactions across major markets.
- Monavate, Baanx, and Grateful give Exodus the tools to handle card issuing, stablecoin payments, and merchant services without depending on outside providers.
- Rising stablecoin use and stronger enterprise demand shape Exodus’ strategy as it focuses on clearer revenue models and faster development across its payment stack.
Exodus, a leading self-custodial crypto wallet, is expanding its role in crypto payments after announcing a deal to acquire W3C Corp, the parent company of Monavate and Baanx. The wallet company revealed the agreement today and confirmed that it seeks to control every stage of the on-chain transaction flow.
The move comes amid Exodus trying to strengthen its position in the US, the UK, and EU markets through deeper control of issuing, processing, and settlement rails. The company plans to integrate these new capabilities directly into its self-custodial wallet and its enterprise tools. The acquisition awaits regulatory approvals. However, the intent signals a major shift in how Exodus plans to compete in a rapidly evolving payments landscape.
Exodus said the deal places it among the few self-custodial platforms that manage the full payments stack. The company aims to support a wider range of stablecoins and expand its card issuance options through Visa, Mastercard, and Discover. Hence, the company expects its infrastructure to reduce dependence on third-party providers. Exodus believes this approach will unlock faster rollout cycles and stronger revenue alignment with everyday transactions.
Exodus gains core payments infrastructure
Monavate and Baanx extend issuing, processing, and compliance functions that Exodus wants to merge into its product ecosystem. Moreover, the company expects these tools to strengthen both consumer products and enterprise solutions. This includes XO Swap, the liquidity engine that powers major industry partners.
The firm noted that XO Swap continued to generate strong volumes. It contributed 37% of exchange provider activity in October, a figure that held steady from September. Consequently, Exodus intends to enhance these tools with programmable payouts and turnkey card programs supported by Monavate and Baanx. The company also highlighted that these tools will help clients launch flexible payment features with fewer external dependencies.
A broader global expansion strategy
The acquisition comes amid growing stablecoin activities that are reshaping the strategic direction of decentralized finance (DeFi) landscape. Stablecoin payment volumes jumped 70% from February to August 2025. Nearly two-thirds of that flow came from B2B transactions. Hence, Exodus expects the revenue streams from interchange, processing, and program fees to scale. “These offerings will diversify our revenue streams as they help build a more predictable, recurring earnings base aligned with everyday use of digital dollars,” said James Gernetzke, Chief Financial Officer of Exodus.
Exodus continued its acceleration in Latin America after it agreed to acquire Grateful on November 10. The Uruguay-based startup supports stablecoin merchant payments and offers wallet-to-wallet transfers, QR payments, ecommerce checkout tools, and offramping. The company noted that merchants seek faster settlements and lower payment costs, especially across emerging markets.
“Grateful is a natural complement for our efforts to expand access to digital payments and cryptocurrency in Latin America,” said JP Richardson, CEO of Exodus. He added that stablecoin rails help creators and gig workers manage invoicing, recurring payments, and cross-border settlements. Additionally, Richardson highlighted that merging Grateful’s platform with the Exodus wallet will give users full control of their money with borderless transfers.
This expansion builds on the company’s momentum following its uplisting to the New York Stock Exchange in January. The event took place on January 8 during the New York Stock Exchange (NYSE) Opening Bell ceremony. Richardson called the uplisting a step forward for financial sovereignty and praised the community’s support. The Omaha-based company framed the milestone as part of its broader mission to provide users with more control over their assets.
How the deal strengthens Exodus
The technology coming from W3C Corp and Grateful gives Exodus the pieces needed to form a payments system that uses stablecoins and on-chain transactions. It also allows the company to manage the main parts that handle consumer spending, business payouts, and enterprise connections. This setup makes the financial model clearer and allows updates to be introduced more quickly.
The company sees a future where users spend stablecoins as easily as they store them. “By bringing card and payments infrastructure in-house, we are closing the gap between holding and spending,” said Richardson.
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