Exodus Movement (EXOD) M&A Presentation summary

Strategic rationale and vision

• Acquisition of W3C Corporation, including Monavate and Baanx, aims to create an integrated payments experience, bridging digital assets and real-world spending.

• The deal positions the platform as the only self-custodial solution controlling end-to-end payment capabilities, enabling users to save, swap, earn, and spend within a single app.

• Customers gain more control, seamless access to stablecoins like Tether and USDC, and a smoother experience without moving assets between platforms.

• The acquisition supports a vision of a unified, programmable financial experience, with recent moves like the Grateful acquisition enhancing stablecoin merchant processing in LATAM.

• Strategic rationale includes expanding use cases, cross-sell opportunities, and reducing third-party reliance.

Transaction overview

• Acquisition of W3C Corp, including Monavate and Baanx, for $175 million in cash.

• Closing expected in H1 2026, with core integration planned for 6-9 months.

• The transaction is structured as an all-cash deal to avoid excessive dilution, with bridge financing provided to W3C for acquisition and growth.

• Enables users to spend self-custodied assets, creating a next-gen banking experience.

• Reduces dependence on third-party providers and enhances control over the payments stack.

Company profiles

• Monavate is an FCA-regulated e-money institution and licensed card issuer-processor with strong Visa and Mastercard ties and a significant presence in the UK, Europe, and North America.

• Monavate offers global IBAN accounts, card issuing, and payment processing for fintechs and digital platforms.

• Provides regulated settlement infrastructure for multi-currency programs across key regions.

• Baanx is a crypto-native payments platform enabling wallets and fintechs to launch cards on major networks, specializing in crypto-to-fiat conversion and integrated risk/compliance tools.

• Delivers customizable card and account solutions for Web3 brands, connecting digital assets to payments.