Exodus Utilizes Bitcoin Assets to Support $175M Investment in Onchain Payments

Exodus's Acquisition Strategy: Crypto wallet provider Exodus plans to acquire W3C Corp for $175 million, aiming to integrate payment infrastructure and become a self-custodial wallet that controls the entire payments stack, enhancing its services for both consumers and enterprises.

Financing the Deal: To fund the acquisition, Exodus will utilize its Bitcoin reserves and a credit facility with Galaxy Digital, having already loaned $58.8 million to W3C and potentially extending an additional $10 million for working capital.

Integration of Payment Tools: The acquisition will allow Exodus to incorporate card issuance, processing, and compliance tools directly into its offerings, reducing reliance on third-party vendors and supporting a wider range of assets, including popular stablecoins.

Industry Context: This move aligns with broader trends in the payment industry, as major networks like Visa and Swift explore blockchain-based solutions and stablecoin integration for faster and more efficient cross-border transactions.