Exodus Movement, Inc., a leading self-custodial cryptocurrency platform, announced that it has acquired the outstanding shares of Monavate Holdings Limited, and Baanx.com Ltd., which were subsidiaries of W3C Corp (“W3C”), from the Receivers that were appointed in the United Kingdom to take control of these entities after W3C defaulted on a loan that was secured by these shares. The purchase price of these shares is $76.273.333.30, which is the exact amount of principal and interest outstanding on the W3C loan, as of April 30, 2026.
Monavate Holdings Limited, together with its subsidiary Monavate Ltd and Baanx.com Ltd are established providers of card and payments infrastructure serving fintech, crypto, and enterprise clients. They bring issuing, processing and regulatory capabilities that Exodus will integrate directly into its existing consumer and enterprise product suite. With this transaction, Exodus now owns the underlying card and payments stack, reducing its dependence on third-party providers and supporting a wider range of assets—including widely-used payment stablecoins. Exodus will also be positioned to issue payment cards via networks like Visa, Mastercard, and Discover, while broadening its geographic reach to support new products and partnerships across the US, UK, and the EU.
Read More on Fintech : Global Fintech Interview with Baran Ozkan, co-founder & CEO of Flagright
JP Richardson, CEO and Co-Founder of Exodus, commented, “This is a turning point for Exodus. Bringing payments in-house lays the foundation for the next generation of products built on self-custody. We look forward to working with the Monavate and Baanx UK teams to keep expanding what we offer to our customers.”
Founded in 2015, Exodus Movement, Inc. (NYSE American: EXOD) is pioneering self-custodial finance by giving people the tools to earn rewards, spend, manage, and swap digital assets across borders, all without giving up control. Exodus serves millions of users through its products built on a simple principle: your money should be yours.
Exodus also powers crypto infrastructure for enterprise platforms serving millions of users through its enterprise product suite. Headquartered in Omaha, Nebraska, Exodus is financial software where ownership is the default.
Catch more Fintech Insights : Real-Time Payments and the Redefinition Of Global Liquidity
[To share your insights with us, please write to psen@itechseries.com ]
