Exodus to Acquire W3C Corp, Parent Company of Baanx and Monavate, for $175 Million

BlockBeats reported on November 25, citing CoinDesk, that crypto wallet company Exodus Movement will acquire W3C Corp, the parent company of crypto card and payment companies Baanx and Monavate, for $175 million. The transaction will be funded through the company’s own cash reserves and financing provided by Galaxy Digital, with the financing secured by Bitcoin held by Exodus. Baanx and Monavate have been collaborating with institutions such as Visa, Mastercard, and MetaMask, focusing on the development of cryptocurrency cards and user self-custody Web3 payment services. This transaction will position Exodus as one of the few self-custody wallet providers capable of managing the entire payment experience, from wallet to card.