Exodus moves to acquire Baanx, Monavate in $175M deal to bring card and payments infrastructure in-house
PositiveCryptocurrency
- Exodus has announced its acquisition of Baanx and Monavate for $175 million, a strategic move aimed at bringing its card and payments infrastructure in-house. This acquisition marks a significant step in Exodus's transition to a full-service crypto payments firm, potentially reducing its reliance on traditional banking systems.
- The acquisition is expected to enhance Exodus's offerings in the cryptocurrency space, particularly in facilitating crypto card services and payment solutions. This move aligns with the growing trend of crypto firms seeking to integrate more services internally to improve user experience and operational efficiency.
- This development reflects a broader trend in the cryptocurrency industry, where firms are increasingly looking to consolidate services and reduce dependence on external financial systems. As regulatory frameworks evolve, companies like Exodus are positioning themselves to capitalize on the integration of digital assets into traditional finance, as seen in recent activities by major players like BlackRock and Coinbase.
— via World Pulse Now AI Editorial System
