Exodus Movement Acquires Outstanding Shares of Monavate Holdings Limited and Baanx.com Ltd.

Exodus Movement (NYSE American: EXOD) acquired all outstanding shares of Monavate Holdings Limited and Baanx.com Ltd from UK-appointed Receivers for $76,273,333.30, the exact principal and interest outstanding on the secured W3C loan as of April 30, 2026.

Rhea-AI Summary

Exodus Movement (NYSE American: EXOD) acquired all outstanding shares of Monavate Holdings Limited and Baanx.com Ltd from UK-appointed Receivers for $76,273,333.30, the exact principal and interest outstanding on the secured W3C loan as of April 30, 2026.

Exodus gains an in-house card and payments stack (issuing, processing, regulatory capabilities) to integrate with its consumer and enterprise products, reduce third-party dependence, and support payment stablecoins and card issuance across the US, UK, and EU.

Positive

• Acquisition price of $76,273,333.30 for Monavate and Baanx shares
• In-house payments stack (issuing, processing, regulatory capabilities) added to Exodus product suite
• Reduced third-party dependence for card and payments infrastructure
• Ability to issue payment cards via Visa, Mastercard, and Discover
• Broader geographic reach across the US, UK, and the EU

Argus May 4 session

-1.00% close to close Open Argus

Details

News Market Reaction – EXOD

On May 4, the first trading day after this news, EXOD closed 1.00% below the previous close.

Data tracked by StockTitan Argus for the May 4 session.

Market Context

This announcement finalizes Exodus’s long-running effort to control Monavate and Baanx by purchasing...

Analysis

This announcement finalizes Exodus’s long-running effort to control Monavate and Baanx by purchasing their shares for $76.273.333.30, integrating card issuing, processing, and regulatory capabilities. It follows Q1 2026 results showing $22.7 million in revenue and a $36.4 million net loss on digital assets, alongside liquidity of $122.6 million. Investors may focus on how fully owning the payments stack impacts future volumes, user growth around 1.5 million MAUs, and product expansion in the US, UK, and EU.

Key Figures

Purchase price: $76.273.333.30 W3C term facility: $70 million Q1 2026 revenue: $22.7 million +5 more

Purchase price

$76.273.333.30

Price paid for outstanding Monavate and Baanx shares as of Apr 30, 2026

W3C term facility

$70 million

Secured loan facility referenced in prior 8-K and news

Q1 2026 revenue

$22.7 million

Preliminary unaudited revenue vs Q1 2025

Q1 2025 revenue

$36.0 million

Prior-year quarter revenue for comparison

Net loss on digital assets

$36.4 million

Preliminary Q1 2026 loss mainly from price movements

Exchange volume

$1.18 billion

Q1 2026 exchange provider volume, down 22% vs Q4 2025

Liquidity (digital assets + cash)

$122.6 million

Digital assets, cash, and cash equivalents at Mar 31, 2026

Monthly active users

1.5 million

MAUs as of Mar 31, 2026, unchanged vs Dec 31, 2025

Previous Acquisition Reports

3 past events · Latest: Nov 24

Same Type 3 events

1. Nov 24

   W3C group acquisition

   24h Move

   -3.5%

   Definitive agreement to acquire W3C, parent of Monavate and Baanx.

2. Feb 17

   Banxa offer expiry

   24h Move

   -6.9%

   Previously disclosed offer to acquire Banxa expired without agreement.

3. Feb 04

   Banxa acquisition offer

   24h Move

   -4.7%

   Cash-and-share proposal to acquire all outstanding Banxa shares.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

self-custodial, stablecoins, restricted stock units, rsus, +1 more

5 terms

self-custodial technical

"Exodus, a leading self-custodial cryptocurrency platform, today announced..."

Self-custodial describes a setup where an individual or entity holds and controls their own assets or credentials directly, rather than trusting a third party to store them. For investors, it means you have full control and responsibility—like holding the only key to a safe: greater autonomy and potentially lower counterparty risk, but also greater responsibility for secure storage, loss recovery, and personal security practices.

stablecoins financial

"supporting a wider range of assets—including widely-used payment stablecoins."

Stablecoins are a type of digital currency designed to maintain a steady value, often linked to traditional currencies like the dollar or euro. They function like digital cash that offers the convenience of online transactions while avoiding the large price swings common with other cryptocurrencies. This stability makes them useful for investors and users who want a reliable way to store and transfer value without exposure to sudden market changes.

restricted stock units financial

"received an equity award in the form of restricted stock units."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

rsus financial

"The award consists of 1,417 restricted stock units originally granted..."

RSUs, or restricted stock units, are a form of company shares given to employees as part of their compensation. They are typically awarded with certain restrictions, such as a waiting period before they can be fully owned or sold, similar to earning a gift that becomes fully yours over time. For investors, RSUs can impact a company's stock offerings and reflect how much the company relies on stock-based incentives to attract and retain talent.

term loan facility financial

"subsidiaries of W3C Corp that secured a $70 million term loan facility."

A term loan facility is a type of loan provided by a lender that is repaid over a set period of time, usually with fixed payments. It functions like a large, upfront loan that a borrower agrees to pay back gradually, often used to fund major investments or projects. For investors, understanding a company's use of such loans helps assess its financial stability and risk level.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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OMAHA, Neb., May 01, 2026 (GLOBE NEWSWIRE) -- Exodus Movement, Inc. (NYSE American: EXOD) ("Exodus"), a leading self-custodial cryptocurrency platform, today announced that it has acquired the outstanding shares of Monavate Holdings Limited, and Baanx.com Ltd., which were subsidiaries of W3C Corp (“W3C”), from the Receivers that were appointed in the United Kingdom to take control of these entities after W3C defaulted on a loan that was secured by these shares. The purchase price of these shares is $76.273.333.30, which is the exact amount of principal and interest outstanding on the W3C loan, as of April 30, 2026.

Monavate Holdings Limited, together with its subsidiary Monavate Ltd and Baanx.com Ltd are established providers of card and payments infrastructure serving fintech, crypto, and enterprise clients. They bring issuing, processing and regulatory capabilities that Exodus will integrate directly into its existing consumer and enterprise product suite. With this transaction, Exodus now owns the underlying card and payments stack, reducing its dependence on third-party providers and supporting a wider range of assets—including widely-used payment stablecoins. Exodus will also be positioned to issue payment cards via networks like Visa, Mastercard, and Discover, while broadening its geographic reach to support new products and partnerships across the US, UK, and the EU.

JP Richardson, CEO and Co-Founder of Exodus, commented, “This is a turning point for Exodus. Bringing payments in-house lays the foundation for the next generation of products built on self-custody. We look forward to working with the Monavate and Baanx UK teams to keep expanding what we offer to our customers.”

About Exodus

Founded in 2015, Exodus Movement, Inc. (NYSE American: EXOD) is pioneering self-custodial finance by giving people the tools to earn rewards, spend, manage, and swap digital assets across borders, all without giving up control. Exodus serves millions of users through its products built on a simple principle: your money should be yours.

Exodus also powers crypto infrastructure for enterprise platforms serving millions of users through its enterprise product suite. Headquartered in Omaha, Nebraska, Exodus is financial software where ownership is the default. For more information, visit exodus.com.

Investor Contact
investors@exodus.com

Media Contact
Aubrey Strobel/Elena Nisonoff, Halcyon Communications
exodus@halcyonpr.xyz

Disclosure Information

Exodus may use its website and the following social media outlets as distribution channels of material nonpublic information about the Company. Financial and other important information regarding the Company is routinely accessible through and posted on the following: websites exodus.com/investors and exodus.com, and social media: X (@exodus and JP Richardson’s feed @jprichardson), Facebook, LinkedIn, and YouTube.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, may be forward-looking statements. Forward-looking statements are based on our beliefs and assumptions and on information currently available to us as of the date hereof. In some cases, you can identify forward-looking statements by the following words: "will," "expect," "would," "should," "intend,"

Forward-looking statements in this document include, but are not limited to, Exodus’s plan to integrate Monavate Holdings Limited, Monavate Ltd and Baanx.com Ltd. into its platform and its plan to issue payment cards. Such forward-looking statements involve a number of risks, uncertainties and other important factors that could cause our actual results to differ materially from those expressed or implied by our forward-looking statements. Such factors include those set forth in “Item 1. Business” and “Item 1A. Risk Factors” of Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 11, 2026, as well as in our other reports filed with the SEC from time to time.

All forward-looking statements are expressly qualified in their entirety by such cautionary statements. Readers are cautioned not to place undue reliance on such forward-looking statements. Except as required by law, we undertake no obligation to update or revise any forward-looking statements that have been made to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Exodus (EXOD) pay to acquire Monavate and Baanx on May 1, 2026?

Exodus paid $76,273,333.30 to acquire the outstanding shares, the exact principal and interest outstanding on the secured loan as of April 30, 2026. According to the company, the amount equals the loan balance at that date.

How does the Monavate and Baanx acquisition affect Exodus's payments capabilities (EXOD)?

The acquisition gives Exodus an in-house issuing, processing, and regulatory payments stack to integrate into its products. According to the company, this reduces reliance on third parties and enables broader payment features.

Will Exodus (EXOD) be able to issue payment cards after buying Monavate and Baanx?

Yes. Exodus can be positioned to issue payment cards via Visa, Mastercard, and Discover using the acquired infrastructure. According to the company, networks and issuing capabilities are part of the purchase.

Which regions will Exodus (EXOD) expand into after the Monavate and Baanx purchase?

The acquisition broadens geographic reach to support products and partnerships across the US, UK, and EU. According to the company, the acquired firms already serve fintech, crypto, and enterprise clients in these markets.

How does owning the payments stack impact Exodus's support for stablecoins (EXOD)?

Owning the payments stack lets Exodus support a wider range of assets, including widely-used payment stablecoins, within its ecosystem. According to the company, this capability follows integration of issuing and processing functions.