Exodus Movement Acquires Outstanding Shares of Monavate Holdings Limited and Baanx.com Ltd.
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 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.
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.”
About Exodus
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. For more information, visit exodus.com.
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Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, may be forward-looking statements. Forward-looking statements are based on our beliefs and assumptions and on information currently available to us as of the date hereof. In some cases, you can identify forward-looking statements by the following words: "will," "expect," "would," "should," "intend,"
Forward-looking statements in this document include, but are not limited to, Exodus’s plan to integrate Monavate Holdings Limited, Monavate Ltd and Baanx.com Ltd. into its platform and its plan to issue payment cards. Such forward-looking statements involve a number of risks, uncertainties and other important factors that could cause our actual results to differ materially from those expressed or implied by our forward-looking statements. Such factors include those set forth in “Item 1. Business” and “Item 1A. Risk Factors” of Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 11, 2026, as well as in our other reports filed with the SEC from time to time.
All forward-looking statements are expressly qualified in their entirety by such cautionary statements. Readers are cautioned not to place undue reliance on such forward-looking statements. Except as required by law, we undertake no obligation to update or revise any forward-looking statements that have been made to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events.