Encryption wallet provider Exodus spent $175 million on the acquisition of W3C Corp.

Golden Finance reports that the US-listed encryption wallet provider Exodus Movement (NYSE American: EXOD) announced an acquisition of $175 million for the parent company of the crypto card and payment companies Baanx and Monavate, W3C Corp. Exodus stated that the transaction consists of “self-owned cash and financing provided by Galaxy Digital, secured by Exodus's Bitcoin holdings.” Baanx and Monavate have previously collaborated with companies such as Visa, Mastercard, and MetaMask to develop encryption cards and self-custody Web3 payment services. Exodus pointed out that this acquisition makes it “one of the few self-custody wallets that can control the end-to-end payment experience, from wallet to card integration.”