What W3C Corp does

W3C Corp is a Delaware-incorporated payment technology holding company that described itself as "The Worldwide Payment Technology Group," operating across the United States, Latin America, and the United Kingdom. Through wholly-owned subsidiaries Monavate Holdings Limited, Monavate Ltd, Baanx.com Ltd, and Baanx US Corp, the company provided card issuing (across Visa, Mastercard, and Discover networks), payment processing, and regulatory infrastructure targeted at fintech and cryptocurrency clients, including self-custodial payment solutions for stablecoin and Bitcoin spending.

The company's value proposition centered on regulated, multi-jurisdictional payment rails — anchored by UK FCA-regulated entities — enabling fintech and crypto-native firms to access compliant card and processing infrastructure without building it in-house. W3C Corp used a vertical segmentation approach, addressing two primary customer groups: fintech companies requiring regulated issuing and processing rails, and cryptocurrency companies needing self-custodial payment solutions at scale. Pricing was not publicly disclosed.

In November 2025, W3C Corp entered a definitive agreement to be acquired by Exodus Movement for $175 million. W3C Corp subsequently defaulted on a $70 million secured loan, leading to UK receivership of its three core operating subsidiaries, a Delaware Court of Chancery lawsuit by Exodus against the company and CEO Garth Howat, and the May 2026 sale of those subsidiaries to Exodus for a combined approximately $106.3 million — effectively stripping W3C Corp of its operating businesses and leaving the parent without primary revenue-generating assets.

Name

W3C Corp

Legal name

W3C Corp

Website

https://w3ccorp.com

Company type

Private

Operating status

Acquired

Short description

W3C Corp is a Delaware-based payment technology holding company providing card issuing, payment processing, and regulatory infrastructure for fintech and cryptocurrency clients across the US, UK, and Latin America via its Monavate and Baanx subsidiaries.

Ownership category

akta.pro rank

Product category

Payment Infrastructure

NAICS

Credit Card Issuing (52221), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Finance Services (6199)

akta.pro primary industry

Crypto Card Issuing & Card Programs (Debit/Credit/Prepaid) (FSADAIAC)

akta.pro secondary industries

Cross-Border FX, Multi-Currency & Treasury for Payments (FSAGABAK), Transaction Screening, Sanctions & Compliance Controls (FSAPAJAE), Cross-Border Payment Orchestration & Routing (FSAGAKAJ)

Keywords

• Card issuing infrastructure
• Payment processing services
• Regulatory payment compliance
• Fiat-to-crypto payments
• Fintech payment rails

Headquarters

HQ city

Wilmington

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Core offering

W3C Corp provides regulated payment technology infrastructure — including card issuing (via Visa, Mastercard, and Discover networks), payment processing, and regulatory-as-a-service capabilities — to fintech and crypto companies operating in the United States, Latin America, and the United Kingdom. The company operates through wholly-owned subsidiaries Monavate and Baanx, which deliver end-to-end card and payment services with multi-jurisdictional regulatory coverage spanning the US, UK, and EU.

Product overview

W3C Corp is The Worldwide Payment Technology Group, a payment technology services company operating in the United States, Latin America, and the United Kingdom. The company serves as the parent entity of Monavate and Baanx, which together provide end-to-end card and payments infrastructure serving fintech and crypto clients, with capabilities in card issuing, payment processing, and regulatory compliance.

Differentiator

Problem solved

Functional benefit

Products and services

• Monavate Payments infrastructure company providing card issuing, processing, and regulatory capabilities for fintech and crypto clients, operated as a wholly-owned subsidiary of W3C Corp in the UK.
• Baanx Payments infrastructure company providing card and payment services with issuing, processing, and regulatory capabilities for fintech and crypto clients, including self-custodial payment solutions supporting stablecoin and Bitcoin spending.

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators2 records

Recent moves5 records

Expansion highlights3 records

Emerging players

• BVNK: BVNK provides cross-border payments and on/off-ramp infrastructure for crypto and stablecoins, serving fintechs and platforms. It overlaps with W3C Corp's regulated cross-border payment capabilities for crypto clients.
• Paxos: Paxos provides regulated stablecoin issuance, crypto brokerage, and payment/settlement infrastructure for enterprises. It overlaps with W3C Corp in regulated payment infrastructure for crypto and fintech use cases.
• Alchemy Pay: Alchemy Pay provides crypto on/off-ramp and card payment gateway infrastructure for merchants and fintechs across multiple regions. It is comparable to W3C Corp's crypto payment and card processing focus, with a similar emphasis on cross-border and multi-jurisdictional coverage.

Broad incumbents

• Stripe Issuing: Stripe Issuing is a card-issuing API within Stripe's broader payments platform, serving fintechs and platforms with multi-network card programs. It competes for the same fintech issuing customers as Monavate, but as part of a much larger payments stack.
• Circle: Circle issues USDC and operates payments and treasury infrastructure for businesses using stablecoins. While broader, it is comparable to W3C Corp in providing regulated, on-chain-enabled payment rails for crypto and fintech clients.

Direct peers

• BitPay: BitPay is a crypto payment processor enabling merchants and consumers to send, receive, and store crypto and convert to fiat via card products. It overlaps with W3C Corp's crypto payment and card infrastructure use case.
• Marqeta: Marqeta provides modern card issuing and payment processing infrastructure via APIs, with deep penetration in fintech and crypto card programs. It competes head-to-head with W3C Corp's issuing and processing rails for the same fintech/crypto customer base.
• Galileo Financial Technologies: Galileo (a SoFi company) is a card-issuing and payments processing platform serving fintechs and digital banks with API-based infrastructure. It is a direct competitor to Monavate's issuing and processing capabilities.
• Crypto.com: Crypto.com operates one of the largest crypto Visa card programs globally, combining a card product with exchange and on-chain services. It is a direct competitor to W3C Corp's crypto card-issuing business.
• Wirex: Wirex is a crypto-friendly card issuer and payments app with multi-network Visa/Mastercard card programs serving consumers and businesses. It is directly comparable to W3C Corp's Monavate/Baanx offering in regulated crypto card issuing and processing.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key highlights5 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries4 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about W3C Corp