Exodus

What Exodus does

Exodus Movement, Inc. is a financial technology company founded in 2015 by JP Richardson and Daniel Castagnoli and publicly listed on NYSE American under the ticker EXOD since 2024. Its core product is a non-custodial, multi-asset cryptocurrency wallet available across desktop, mobile, browser, and hardware wallet integrations (Ledger, Trezor), supporting 1,000,000+ assets and 100,000+ swap pairs across nearly 100 blockchains. The proprietary XO Swap cross-chain aggregator, XO Ramp on/off-ramp, and Wallet-as-a-Service/Passkeys SDK form an enterprise B2B stack licensed to wallet partners including Bitget Wallet, MetaMask, and OneKey.

The company generates revenue primarily through swap transaction markups of 0.5%-5% and payment interchange from the recently launched Exodus Pay debit card program, with secondary streams from staking spreads, tokenized securities trading via the Ondo Finance-powered Exodus Markets, and B2B licensing of XO Swap technology. The product portfolio has expanded via acquisition from pure crypto wallet to a full-stack self-custody financial platform, with the May 2026 Monavate/Baanx acquisitions bringing card issuing and processing infrastructure in-house under Visa, Mastercard, and Discover networks across the U.S., U.K., and EU, and the November 2025 Grateful acquisition extending stablecoin merchant payments into Latin America. Distribution is primarily self-serve product-led growth complemented by channel partnerships, UFC sponsorship for mass-market brand exposure, and enterprise white-label integrations.

Customer segments span individual retail crypto users (1.5M MAUs as of May 2026), SMB/enterprise fintech partners licensing wallet infrastructure, AI agent developers using XO Cash/AgentKit, and tokenized securities investors. The business model is exposed to crypto market volatility: FY2025 revenue of $121.6M grew 5% YoY, but Q1 2026 revenue declined 37% YoY to $22.7M, and quarterly funded users fell 18% QoQ to 1.4M, signaling near-term pressure despite ongoing platform expansion. Regulatory milestones include SOC 2 Type II, ISO 27001, MiCA, GENIUS Act positioning, and U.K. FCA approval, partially offset by a $3.1M OFAC fine in December for 254 Iran sanctions violations.

Name

Exodus

Legal name

Exodus Movement, Inc.

Website

https://exodus.com

Company type

Public

Founded year

2015

Operating status

Operating

Headcount range

101–250 employees

Short description

Exodus is a publicly traded financial technology company that operates a non-custodial multi-asset cryptocurrency wallet, payments, and tokenized securities platform, serving retail crypto users, fintech B2B partners, and AI agent developers through self-serve apps and white-label infrastructure.

Ownership category

akta.pro rank

Product category

Cryptocurrency Wallet & Digital Asset Software

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Securities and Commodity Exchanges (52321)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Cross-Chain Wallet & Asset Routing Infrastructure (FSADACAJ)

akta.pro secondary industries

Embedded Wallets (Platforms & Marketplaces) (FSAMAEAM), DEX Aggregators & Smart Order Routing (FSADABAC), Crypto Remittance & Cross-Border Money Transfer Providers (FSADAIAD)

Keywords

• Cryptocurrency wallet
• Self-custody payments
• Cross-chain swap aggregation
• Stablecoin payment infrastructure
• Tokenized securities trading

Headquarters

HQ city

Omaha

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure, Supply Chain

Revenue model

1. Crypto Swap Fees and Exchange Spreads: Primary revenue stream from swap markups ranging from 0.5% to 5% on cryptocurrency exchanges executed through Exodus wallet. Revenue highly correlated with crypto market activity and user trading volumes. Q1 2026 saw 37% YoY revenue decline to $22.7M reflecting softer crypto markets.
2. Payment Card Interchange: Revenue from interchange income on Exodus Pay debit cards, capturing percentage of transaction value when users spend crypto or stablecoins at merchants. Acquired Monavate and Baanx to own payment issuing rails and capture full stack economics.
3. Exodus Markets Tokenized Securities: Revenue opportunity from tokenized stock and ETF trading on Solana via Exodus Markets partnership with Ondo Finance. Users access 200+ tokenized traditional assets with regulatory availability in supported jurisdictions.
4. Exodus Pay Stablecoin Services: Revenue from stablecoin payment services including Exodus Pay, cashback rewards programs, and potential staking yield on stablecoin holdings. Post-GENIUS Act regulatory framework creates recurring, scalable revenue stream according to management.
5. Enterprise B2B Licensing (XO Swap, WaaS): XO Swap white-label licensing to Bitget Wallet, MetaMask, OneKey and other platforms. Wallet-as-a-Service (WaaS) offerings for enterprise partners to embed custom wallets. Revenue from API access, integration fees, and volume-based arrangements.
6. XO Cash Stablecoin AI Agent Payments: Revenue opportunity from AI agent autonomous payment infrastructure. AgentKit SDK enables developers to create agent wallets; XO Cash stablecoin used for programmatic AI spending. Market projections estimate AI agents could mediate $3-5 trillion in consumer commerce by 2030.

Pricing tiers

Go-to-market motion3 records

Distribution channels7 records

Marketing channels6 records

Core offering

Exodus is a self-custodial multi-asset cryptocurrency wallet platform available across desktop, mobile, and browser, supporting 1,000,000+ digital assets and 100,000+ swap pairs across 100+ blockchains. Beyond wallet storage and exchange, Exodus sells Exodus Pay (a Visa/Mastercard debit card enabling crypto/stablecoin spending), XO Swap (a cross-chain liquidity aggregator also licensed to enterprise wallets), XO Cash (a Solana-based USD stablecoin for AI-agent payments), Exodus Markets (tokenized stocks and ETFs on Solana), XO Ramp (on/off-ramp), and enterprise Wallet-as-a-Service plus Passkeys SDK.

Product overview

Exodus Movement operates as a unified multi-asset cryptocurrency platform centered on its core self-custodial Exodus Wallet, available across desktop, mobile, and browser. The platform has expanded into a comprehensive financial ecosystem through organic development and strategic acquisitions. The product portfolio includes consumer-facing products (Exodus Wallet, Exodus Pay, Exodus Card, Staking, XO Swap, XO Ramp, XO Cash stablecoin, Exodus Markets) and enterprise B2B solutions (XO Suite comprising XO Swap, XO Ramp, Passkeys SDK, and Wallet-as-a-Service). The recent acquisitions of Monavate and Baanx (from W3C Corp) provide the underlying card issuing and processing infrastructure for Exodus Pay and card services. Additional integrations include Ripple (XRP/RLUSD), Ondo Finance (tokenized assets), hardware wallet partnerships (Ledger, Trezor), and payment networks (Visa, Mastercard, Apple Pay, Google Pay). The platform supports over 1,000 cryptocurrencies and 100,000+ asset pairs across 100+ blockchains.

Differentiator

Problem solved

Functional benefit

Brands

• Exodus Pay: Self-custodial payments app enabling users to spend, send, and earn rewards using USD-backed stablecoins, Bitcoin, and other digital assets with a free debit card
• XO Swap
• XO Ramp
• Exodus Markets
• Passkeys Wallet & SDK
• Wallet-as-a-Service (WaaS)
• XO Cash

Products and services

• Exodus Wallet Multi-asset non-custodial cryptocurrency wallet for desktop, mobile, and browser that lets users store, send, receive, swap, and manage 1,000,000+ digital assets across 100+ blockchains with self-sovereign private key management encrypted locally on the device.
• Exodus Pay Self-custodial payment application that lets users send money instantly by phone number, spend via the Exodus Card, and earn real-time cashback rewards using stablecoins and Bitcoin while retaining private key control.
• XO Swap Cross-chain liquidity aggregator that routes trades across decentralized exchanges, bridges, and market makers across nearly 100 blockchains to deliver optimal swap pricing from 0.5%; sold both in-app and as a white-label B2B engine to platforms such as Bitget Wallet, MetaMask, and OneKey.
• XO Ramp On and off-ramp service that lets users buy and sell crypto using credit/debit card, bank account, Apple Pay, or Google Pay with crypto delivered directly to their self-custodial wallet.
• XO Cash USD-backed stablecoin built on Solana, developed with MoonPay, that enables AI agents to make autonomous payments via the AgentKit SDK, with fee-free transactions, configurable spending controls, and Visa integration.
• Exodus Markets Tokenized assets trading platform built with Ondo Finance on Solana, enabling eligible users to buy and sell 200+ tokenized stocks, ETFs, and real-world assets directly inside the Exodus app.
• Passkeys Wallet & SDK Device-based passkey authentication wallet and SDK that provides password-free wallet access with biometric verification to reduce drop-off in web3 onboarding flows.
• Wallet-as-a-Service (WaaS) White-label B2B offering that lets platforms embed custom-branded web3 wallet functionality into their products, leveraging Exodus key management and trading infrastructure under custom enterprise contracts.
• Staking and Earn Staking service enabling users to delegate assets to Proof-of-Stake networks (Ethereum, Solana, Cardano, Cosmos, Injective, Tezos, Kava, Polygon) to earn variable APY rewards, with auto-restaking on select assets.

Quantifiable outcome

• 10%+ month-over-month transaction volume growth
• +3 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration17 records

AI capability3 records

Feature7 records

Partnerships

Eleven partnerships are on record, tiered flagship, strategic, core and minor.

• Ondo FinanceflagshipTechnology or Integration · 12 June 2026Exodus launched Exodus Markets in partnership with Ondo Finance on Solana blockchain. Users can trade 200+ tokenized stocks, ETFs, and real-world assets directly in Exodus wallet. Ondo Finance provides tokenized asset infrastructure with approximately 70% market share among tokenized equity issuers.
• UFC (Ultimate Fighting Championship)flagshipGTM or Marketing Partner · 2 June 2026Exodus named UFC's first Official Payments Partner in long-term partnership. Branding inside the Octagon at every U.S. UFC event, broadcast integration, fan activations at UFC Freedom 250 Fan Fest. Content collaboration across UFC's social media reaching 1 billion households in 210 countries. Event scheduled for White House grounds commemorating 250th birthday of the United States.
• Bitget WalletflagshipTechnology or Integration · 28 May 2026Bitget Wallet (one of world's largest self-custody crypto wallets with 90M+ users) integrated Exodus XO Swap cross-chain aggregator. Users gain access to deeper liquidity, competitive rates, and faster execution across nearly 100 blockchains. XO Swap aggregates liquidity from DEXs, bridges, and market makers to route trades to best available price.
• AgentKit SDK (AI Agent Payments)strategicTechnology or Integration · 8 May 2026AgentKit SDK developed in partnership with MoonPay and Monavate. Allows developers to issue AI agents their own wallets via single API call. Agents can spend directly from Exodus Pay balance with configurable spending rules. Fee-free transactions and integrated debit cards for AI agent commerce.
• Monavate Holdings LimitedcoreStrategic or Co-development Partner · 1 May 2026Exodus acquired Monavate Holdings Limited and its subsidiaries from UK-appointed Receivers for $76.3M as part of W3C Corp transaction. Monavate provides card and payments infrastructure serving fintech and crypto clients with issuing, processing, and regulatory capabilities. Acquisition enables Exodus to issue payment cards via Visa, Mastercard, and Discover networks across US, UK, and EU.
• Baanx (US Corp. and Baanx.com Ltd.)coreStrategic or Co-development Partner · 1 May 2026Exodus acquired Baanx US Corp. for $5M upfront plus up to $25M deferred consideration. Baanx provides crypto card and payments infrastructure. Together with Monavate, Baanx enables Exodus to bring end-to-end self-custodial payment services in-house, reducing dependence on third-party providers.
• MoonPayflagshipStrategic or Co-development Partner · 1 May 2026Partnership with MoonPay to develop XO Cash stablecoin (built on M0 infrastructure) and MoonAgents Card virtual Mastercard enabling AI agents to spend stablecoins directly from on-chain wallets. MoonAgents Card launched in UK and LATAM with US/EU rollout planned. X Games League partnership awarded athletes signing bonuses in XO Cash.
• RipplecoreTechnology or Integration · 16 April 2026Expanded native XRP Ledger (XRPL) and Ripple USD (RLUSD) support in Exodus wallet. Formalizes years of internally managed XRP access into direct partnership with Ripple. Both companies committed to continuing expansion of XRPL and RLUSD functionality. XRP ranks among most active assets on Exodus by user activity and swap volume.
• M0 (Stablecoin Infrastructure)coreTechnology or Integration · 16 December 2025Exodus partnered with M0 to launch USD-backed digital dollar stablecoin (XO Cash) for everyday payments through Exodus app and broader ecosystem. M0 provides stablecoin issuance infrastructure enabling MetaMask, Exodus, and others to launch stablecoins.
• Grateful (Uruguay)minorStrategic or Co-development Partner · 19 November 2025Exodus acquired Uruguay-based stablecoin payments startup Grateful to expand Latin American crypto footprint. Enables merchants and independent workers to accept and manage stablecoin transactions through comprehensive payment infrastructure. Reflects growing international interest in Uruguay as regional crypto hub.
• MetaMask / ConsensysflagshipTechnology or Integration · 11 August 2025Exodus and MetaMask (Consensys) partnership to bring XO Swap bridge functionality to millions of wallet users. Access to over 20,000 trading pairs. Integration extends to Consensys Servo MEV protection product as part of multi-faceted strategic partnership.

Scale indicators10 records

Recent moves7 records

Expansion highlights7 records

Direct peers

• Trust Wallet (Binance): Major self-custody multi-chain crypto wallet owned by Binance. Targets the same retail crypto user with multi-chain swaps, staking, and on-ramp features, and overlaps directly with Exodus Wallet's core value proposition.
• MetaMask (Consensys): Direct consumer self-custody crypto wallet. MetaMask is the largest non-custodial browser/mobile wallet and is now a partner of Exodus via XO Swap and Servo MEV protection, making it the most comparable peer on product, user base (millions of MAUs), and target customer.
• 1inch Network: Leading DEX aggregator routing swaps across chains and DEXs — the most direct functional competitor to Exodus's XO Swap white-label aggregator product. Comparable technology and B2B licensing model.
• Bitget Wallet: Self-custody wallet with 90M+ users that integrated Exodus XO Swap for cross-chain aggregation. Competes head-to-head with Exodus on multi-chain wallet experience and is both a partner and a competitor for end users.
• Phantom Wallet: Leading self-custody wallet initially focused on Solana and now multi-chain. Competes directly with Exodus for the consumer crypto wallet user, with similar NFT, swap, and staking features.

Broad incumbents

• Coinbase Wallet / Coinbase: Coinbase Wallet is a self-custody wallet that competes with Exodus, while the broader Coinbase exchange platform overlaps with Exodus Markets, swap, and on-ramp offerings. Incumbent across multiple of Exodus's lines of business.
• Ledger: Hardware wallet manufacturer with Ledger Live companion app. Overlaps with Exodus on hardware-wallet-integrated self-custody and is both a partner (hardware integration) and a competitor on adjacent wallet UX.
• MoonPay: Major fiat-to-crypto on-ramp provider and partner in XO Cash / MoonAgents Card. Comparable to XO Ramp for crypto purchases and to the broader stablecoin payment rails Exodus is building via MoonAgents Card.
• Trezor: Hardware wallet provider integrated with Exodus desktop. Competes for security-conscious self-custody users and is both a partner and a competitor in the broader crypto self-custody market.

Emerging players

• Ondo Finance: Tokenized real-world asset platform powering Exodus Markets. While currently a partner, Ondo owns the tokenization stack and could vertically integrate a competing wallet interface, making it a strategically adjacent company to monitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/exodus
• GitHubgithub.com/ExodusMovement
• YouTubeyoutube.com/c/exodus
• Facebookfacebook.com/exodus.io
• LinkedInlinkedin.com/company/exodus-io
• Instagraminstagram.com/exodus

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries4 records

Funding overview

Funding rounds4 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A4 records

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Exodus