Exodus Acquires W3C for $175M to Launch On-Chain Payments
Exodus Movement, now listed on NYSE, has agreed to acquire payments infrastructure firm W3C Corp and its subsidiaries Monavate and Baanx for $175 million. The deal, which leverages a Galaxy Digital credit facility secured by its Bitcoin reserves alongside cash, includes an existing $58.8 million loan to W3C and a further $10 million for operations. Slated to close in 2026, the acquisition will allow Exodus to issue payment cards via Visa, Mastercard, and Discover networks and integrate on-chain payments directly through its XO Swap aggregator. CFO James Gernetzke expects new revenue streams from interchange fees, processing charges and program fees, positioning Exodus as a one-stop platform for crypto storage, card issuance and on-chain payments.
Bullish
Exodus’s move to finance a major acquisition using Bitcoin-backed credit and cash underscores growing institutional confidence in BTC. By integrating card issuance and on-chain payments into a self-custodial wallet, Exodus could drive higher Bitcoin transaction volumes and adoption. The news signals expanded real-world utility and revenue potential for BTC, suggesting positive momentum and renewed demand among traders, which supports a bullish outlook in both the short and long term.