Exodus Utilizes Bitcoin to Fuel $175 Million On-Chain Payments Project

Exodus Acquisition: Exodus is acquiring W3C Corp for $175 million to enhance its on-chain payment capabilities, aiming to integrate card issuance and processing directly into its platform.

Utilization of Bitcoin Reserves: The company plans to finance the acquisition using its Bitcoin holdings and has already loaned $58.8 million to W3C, with an additional $10 million allocated for working capital.

Strategic Positioning: This move positions Exodus as a self-custodial wallet with comprehensive payment solutions, bridging the gap between crypto storage and spending, while supporting various assets including stablecoins.

Industry Trends: Exodus's strategy aligns with broader trends in the financial sector, as traditional payment networks explore blockchain-based solutions, evidenced by Visa's pilot program for stablecoin transactions.