Exodus, a crypto wallet provider, is set to acquire W3C Corp for $175 million to boost its onchain payments capabilities. By bringing Monavate and Baanx in-house, Exodus plans to control the entire payments stack, offering a self-custodial wallet for crypto storage and card issuance. Shares of Exodus rose by 3.6% following the announcement.

To finance the deal, Exodus will use cash on hand and its credit facility with Galaxy Digital, secured by its Bitcoin holdings. The agreement includes a $58.8 million loan to W3C for the acquisition of Monavate and Baanx, with a potential additional $10 million for working capital. Closing is expected in 2026.

Exodus’s onchain exchange aggregator, XO Swap, will have access to Monavate and Baanx tools for programmable payouts and card issuance. The move to acquire W3C follows Exodus’s recent acquisition of Grateful, a stablecoin payments startup based in LATAM. Efforts to reach Exodus for comment were unsuccessful.

Major payment networks like Visa and Swift are increasingly embracing stablecoins and blockchain-based settlement systems. Visa’s pilot program with USDC and EURC aims to speed up cross-border payments, while Swift’s collaboration with Consensys and financial institutions seeks to enable real-time cross-border payments 24/7.

Read more at CoinTelegraph: Exodus Uses Bitcoin to Fund $175 Million Onchain Payments Push