AcquisitionsMay 1, 2026, 04:52 PM
Exodus Acquires Monavate & Baanx for $76.27M
AI Summary
Exodus Movement, Inc. announced the acquisition of Monavate Holdings Limited and Baanx.com Ltd. for $76,273,333.30. These entities, previously subsidiaries of W3C Corp, provide established card and payments infrastructure. This strategic move allows Exodus to integrate issuing, processing, and regulatory capabilities directly into its platform, reducing reliance on third-party providers and enabling the issuance of payment cards via major networks like Visa, Mastercard, and Discover. The acquisition is expected to expand Exodus's product offerings and geographic reach across the US, UK, and EU.
Key Highlights
- Exodus acquired Monavate Holdings Limited and Baanx.com Ltd.
- The purchase price for the shares was $76,273,333.30.
- The acquisition was from Receivers after W3C Corp defaulted on a loan.
- Monavate and Baanx provide card and payments infrastructure for fintech, crypto, and enterprise clients.
- Exodus will integrate issuing, processing, and regulatory capabilities in-house.
- The acquisition reduces Exodus's dependence on third-party providers.
- Exodus will be positioned to issue payment cards via Visa, Mastercard, and Discover.
- The transaction broadens Exodus's geographic reach to the US, UK, and EU.