Exodus to Acquire W3C Corp for $175 Million Using Bitcoin Reserves
- Exodus plans to finance a $175 million acquisition of W3C Corp, which includes Monavate and Baanx.
- The company will utilize cash reserves and a credit facility with Galaxy Digital, backed by its Bitcoin holdings.
- Exodus aims to integrate payment infrastructure in-house, enhancing its capabilities in crypto storage and card issuance.
- The deal is expected to close in 2026, with Exodus already providing a $58.8 million loan to support the acquisition.
- Exodus shares rose by 3.6% following the announcement of this strategic shift.
This acquisition reflects Exodus’s strategy to control the entire payments stack, reducing reliance on third-party vendors while supporting a wider range of assets, including popular stablecoins. The move aligns with broader trends in the payments industry towards blockchain-based solutions.
With the planned acquisition of W3C Corp, Exodus is positioning itself as a comprehensive platform for both holding and spending cryptocurrency, leveraging its existing Bitcoin reserves for funding.(Source)
