Exodus Will Buy W3C Corp and Become a Full-Fledged Crypto Payment Platform

• Exodus has announced the purchase of W3C Corp with Baanx and Monavate.
• This way, the company is moving to a closed-cycle crypto payment model.
• It will also invest $175 million in its own payment infrastructure.

Cryptocurrency wallet developer Exodus has announced the signing of an agreement to acquire W3C Corp, the parent company of Monavate and Baanx. After closing the deal, the company plans to move to a new stage of development and turn into a full-fledged crypto payment company with control over the entire payment cycle — from wallet to card.

The deal involves the acquisition of two payment infrastructure providers at once — Baanx, known for its cooperation with Mastercard and Visa, and Monavate, which specializes in card and payment processing. This will allow Exodus to integrate the issuance and processing functionality into its own product ecosystem and reduce dependence on external partners.

The company plans to be able to issue payment cards in the Visa, Mastercard, and Discover networks, as well as expand its geographical presence in the US, UK and EU markets.

In addition, the integration of Monavate and Baanx will allow the company to support a wider range of assets, including popular stablecoins.

He added:

The company notes that the demand for stablecoin payments is actively growing: the volume of payments in stablecoins increased by 70% from February to August 2025, and almost two-thirds of the turnover is accounted for by B2B payments.

According to him, the new services should provide more predictable and regular revenues, while still benefiting from the volatility of the crypto market.

In early October, the capitalization of stablecoins exceeded $300 billion for the first time, and Goldman Sachs experts believe that in the long run, the figure could reach trillions of dollars.

After the release of the Baanx and Monavate infrastructure, corporate clients working through XO Swap will be able to connect programmable payments and launch their own card products.

In October 2025, XO Swap accounted for 37% of the volume among exchange service providers, a share that remained stable compared to September.

Thanks to previous partnerships, XO Swap already works with players such as MetaMask and Ledger.

According to the statement, the announcement of the deal with W3C Corp came shortly after the acquisition of Grateful, a Latin American startup that orchestrates stablecoin payments. Together, the two agreements create the basic infrastructure for launching modern crypto payment products for the mass and corporate segments.

Additionally, Exodus plans to finance the deal for $175 million with its own funds and a credit line from Galaxy Digital secured by the company’s bitcoins. The transaction is expected to close in 2026, subject to regulatory approvals.

Moreover, Exodus has already provided a $58.8 million loan to the W3C to finance the acquisition of Monavate and Baanx, and may provide up to $10 million in additional funding, which will only become due and payable in the event of a breach of the W3C agreement.

The company has also provided a $10 million secured loan to Garth Howat, which is guaranteed by his interest in W3C and will be credited to the transaction value at closing, unless repaid earlier.

Exodus became the first US company to tokenize its shares on the blockchain and listed on the NYSE American under the ticker EXOD in May 2024.

A year later, in May 2025, Exodus and Baanx introduced the Mastercard crypto debit card. Beta testing is available in USDT and USDC stablecoins, and the mass launch was planned for the end of 2025.