Exodus to Acquire W3C Corp, Parent Company of Baanx and Monavate, for $175 Million

BlockBeats News, November 25th, according to CoinDesk, cryptocurrency wallet company Exodus Movement will acquire the parent company W3C Corp of cryptocurrency card and payment companies Baanx and Monavate for $175 million. The transaction is composed of the company's own cash and financing provided by Galaxy Digital, with the financing secured by Bitcoin held by Exodus.

Baanx and Monavate have been collaborating with institutions such as Visa, Mastercard, and MetaMask, focusing on developing cryptocurrency cards and user-custodied Web3 payment services. This transaction will make Exodus one of the few self-custody wallet providers capable of controlling the end-to-end payment experience from wallet to card.