The next chapter is bigger, bolder, and unmistakably global - and we are excited to build it as part of the Exodus family.
November 25, 2025
News
Cambridge, UK — [25/11/2025] — Monavate today issued the following statement in response to Exodus Movement, Inc.’s announcement that it has entered into a definitive agreement to acquire W3C Corp, the parent company of Monavate and Baanx, (subject to regulatory approval) as outlined in Exodus’ public disclosure.
For Monavate, this is a seminal moment after five years of building, refining, and pushing the boundaries of what modern payment infrastructure can be.
Headlines tell the story of “what.”
The real story - the one we’re most proud of - is the “how.”
This deal reflects months of intense, collaborative work between Monavate, Baanx, (subject to regulatory approval) and Exodus: diligence cycles, strategic deep dives, regulatory alignment, architecture mapping, and the kind of frank, ambitious conversations that only happen when three teams realise they’re building different parts of the same future.
But beneath those months is something even more profound: five years of Monavate showing up every day to solve the complex problems.
Five years of designing infrastructure from first principles.
Five years of earning trust from regulators and clients.
Five years of engineers, operators, and creators pushing for a cleaner, more innovative, more modern way for money to move.
Today is a moment to acknowledge that craftsmanship.
And then we get back to work - because now we get to roll our sleeves up properly, with the scale, reach and momentum to match our global ambitions.
The proposed $175 million acquisition announced by Exodus — funded through cash and a Galaxy Digital–secured credit facility — arrives at a turning point for global finance. Programmable money, stablecoins, and real-time settlement aren’t side notes anymore. They are becoming the new foundation.
Monavate was built for this exact inflection point.
“Financial infrastructure is rewritten only once or twice in a century. We’re now at the beginning of the next era; a complete re-plumbing of how money moves.”
“Stablecoins will become the dominant global settlement layer. To make that possible, you need infrastructure that speaks both languages: decentralised value and regulated finance. This partnership accelerates our ability to build those rails.”
“I’m incredibly proud of the work that has gone into this deal over the last few months. Now is the moment we get to truly scale what we’ve built.” - Michael Rolph, CEO of Monavate
“From day one, we’ve asked ourselves a simple question: why must it be built this way? And every time we found an answer that didn’t make sense, we pushed ourselves to reimagine it — to redesign the infrastructure, rethink the logic, and rebuild the pieces that were holding the industry back.”
“This partnership is another one of those moments. A moment where we’ve asked: how might we best position ourselves to change the way the world pays? The combination with Exodus represents a leap in that ambition. It puts us in a position to shape the future of payments at a global scale — and that’s exactly what we intend to do.” - Scott Lucas, Founder and President of Monavate
Monavate remains focused on the mission that has guided us from the beginning: to turn payments into power, and to build infrastructure that helps businesses move faster, operate smarter, and scale globally.
This proposed transaction amplifies that mission.
Becoming part of the Exodus ecosystem represents a profound step change for our journey. Their scale, community, vision, and commitment to self-custody align naturally with the infrastructure and regulated capabilities we’ve spent years building. Together, we believe we can unlock a future where digital value moves as freely, securely, and globally as information already does.
For our clients, we see this as an opportunity to deliver even more - more reach, more capability, more innovation, and more confidence in the rails beneath their programmes.
For our team, this is a moment of energy and acceleration. The partnership with Exodus gives us the platform to bring our best work to the world, at a scale we could not have achieved alone.
And for global payments at large, we believe this combination will play a meaningful role in shaping the systems and standards of the next era - one where programmable money, stablecoins, and real-time settlement are foundational, not futuristic.
To our clients: thank you for trusting us with your programmes and your vision.
To our colleagues - past and present: thank you for building something worth acquiring.
And to the market: this is only the beginning. The next chapter is bigger, bolder, and unmistakably global - and we are excited to build it as part of the Exodus family.
Monavate is a Cambridge-based fintech specialising in modern card issuing, payment processing, and regulatory infrastructure for some of the world’s fastest-growing fintech and Web3 companies. Founded in 2020, Monavate is an FCA-regulated e-money institution and a principal member of Mastercard, Visa, and Discover, enabling clients to launch and scale payment programmes across the UK, Europe, and beyond.
Through its API-first MonavateOne platform, the company provides end-to-end issuing, authorisation, settlement, and compliance capabilities that bridge traditional finance and decentralised financial technologies. With more than 6.3 million cards issued and over £6.5 billion in processed payments to date, Monavate powers next-generation payment experiences for innovators across fintech, Web3, travel, insurance, media, and enterprise.
Learn more at monavate.com or follow us on LinkedIn at linkedin.com/company/monavate.
Media Contact
tina@monavate.com
W3C Corp is a newly formed global payments infrastructure group created through the combination of Monavate Holdings Ltd. and Baanx.com Ltd (subject to regulatory approval). Unifying two of the most advanced companies in card issuing, digital asset payments, and regulated financial infrastructure, W3C brings together deep expertise across traditional finance and emerging decentralised technologies.
The group delivers end-to-end capabilities spanning regulated card issuing, processing, compliance, digital asset settlement, and hybrid fiat-on-chain financial services. With a footprint across the UK, EU, and international markets, W3C is designed to power the next generation of global payment experiences — connecting modern Web3 value flows with the trust, governance, and scalability of established financial systems.
W3C’s mission is to build infrastructure that makes programmable money usable at scale, enabling businesses, platforms, and innovators to move value instantly, securely, and across borders with confidence.
Media Contact
tina@monavate.com
Exodus is a leading financial technology platform giving individuals and businesses simple, secure ways to use crypto. Since 2015, Exodus has made digital assets accessible to everyone through its multi-asset crypto wallets, prioritizing design and ease of use. Exodus puts customers in full control of their funds, enabling them to swap, buy, and sell crypto. Its business solutions, including Passkeys Wallets and XO Swap, power embedded self-custody and best-in-class swap aggregation for leading partners. Exodus is building the rails for accessible, secure finance in a digital asset world. Learn more at exodus.com or follow us on X at x.com/exodus.
Investor Contact
investors@exodus.com
Media Contacts
Aubrey Strobel/Elena Nisonoff, Halcyon Communications
exodus@halcyonpr.xyz
Disclosure Information
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