Exodus to acquire W3C Corp, the parent company of Baanx and Monavate, for $175 million

ChainCatcher News, according to CoinDesk, crypto wallet company Exodus Movement will acquire W3C Corp, the parent company of crypto card and payment companies Baanx and Monavate, for $175 million. The deal will be financed by the company's own cash as well as financing provided by Galaxy Digital, with the financing secured by bitcoin held by Exodus.

Baanx and Monavate have been working with institutions such as Visa, Mastercard, and MetaMask to develop crypto cards and self-custody Web3 payment services. This transaction will make Exodus one of the few self-custody wallet providers able to control the entire payment experience from wallet to card.