Exodus Expands Beyond Wallet, Launches Payments Platform and Stablecoin
Publicly traded wallet company Exodus (EXOD) announced its expansion into the full payments stack with the Exodus Pay platform, now live across the US and Europe, and the launch of XO Cash, a dollar-backed stablecoin for AI agents. In Q1, the firm completed acquisitions of Monavate and Baanx, and became debt-free by reducing Bitcoin holdings from 1,704 BTC to 628 BTC, paying down a Galaxy loan and acquisition costs. Cash and equivalents rose from under $5M to nearly $73M, while digital assets fell from $156M to $48M. Exodus also increased Solana holdings to 17,541 SOL. CEO JP Richardson emphasized the move is a natural extension, not a pivot, aiming to let users spend crypto directly from wallets. Shares closed at $6.97, down 9.6% on Tuesday, and are down 53% year-to-date.
Key facts
- Exodus launches Exodus Pay and XO Cash stablecoin for AI agents.
- Digital assets dropped from $156M to $48M; cash rose to $73M.
- Bitcoin holdings reduced from 1,704 to 628 BTC, paying off Galaxy loan.
- Solana holdings increased to 17,541 SOL.
- Shares down 9.6% on Tuesday, 53% year-to-date.