Exodus Movement Acquires Outstanding Shares of Baanx US Corp. for $30M
The $76.3 million deal gives Exodus full control of card issuance and processing as it cuts reliance on third-party payments providers.
- On Friday, May 1, 2026, cryptocurrency platform Exodus Movement, Inc. acquired outstanding shares of Monavate Holdings Limited and Baanx.com Ltd., securing full ownership of their card and payments infrastructure.
- The purchase follows W3C Corp's default on a loan secured by these shares, which prompted UK-appointed receivers to take control of the subsidiaries and facilitate the sale.
- Ownership of the payments stack allows Exodus to issue cards via Visa, Mastercard, and Discover while reducing third-party dependence and expanding geographic reach across the US, UK, and EU.
- CEO and Co-Founder JP Richardson called the acquisition a "turning point," stating bringing payments in-house "unlocks self-custodial payments at scale" for future products.
- This transaction follows Q1 2026 results showing $22.7 million in revenue and $122.6 million in liquidity, as investors monitor how internalizing payments impacts user growth and transaction volumes.
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Hastings Tribune
Exodus Movement Acquires Outstanding Shares of Baanx US Corp. for $30M
OMAHA, Neb., May 01, 2026 (GLOBE NEWSWIRE) -- Exodus Movement, Inc. (NYSE American: EXOD) ("Exodus"), a leading self-custodial cryptocurrency platform, today announced that it has acquired the outstanding shares of Baanx US Corp. and certain other assets from W3C Corp.…
Exodus Movement Acquires Outstanding Shares of Baanx US Corp. for $30M - Exodus Movement (AMEX:EXOD)
OMAHA, Neb., May 01, 2026 (GLOBE NEWSWIRE) -- Exodus Movement, Inc. (NYSE:EXOD) ("Exodus"), a leading self-custodial cryptocurrency platform, today announced that it has acquired the outstanding shares of Baanx US Corp. and certain other assets from W3C Corp. The purchase price for the transaction was $5 million payable upon the transfer of specified assets, with an additional $25 million in deferred consideration payable over four years. JP Ric…
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