Latest news with #JPRichardson
Yahoo
a day ago
- Business
- Yahoo
Exodus taps Worldpay to enable crypto purchase using cards
Self-custodial wallet provider Exodus has announced the launch of a new feature XOPay, in partnership with paytech company Worldpay. XOPay is a feature that permits consumers to buy cryptocurrencies within the self-custodial wallet using credit or debit cards. Worldpay will facilitate a native checkout experience for users. Set up in 2015 and based in Omaha, Exodus has offered a secure platform for individuals to store digital assets away from exchanges. The firm's user base, now at over five million, can use their preferred payment cards to purchase digital currencies directly within their Exodus wallet. This move aims to streamline the cryptocurrency acquisition process, enabling users to natively purchase and retain digital currencies within a single platform. Furthermore, Exodus will leverage Worldpay's flagship fraud detection system, FraudSight, to enhance security and transaction authorisation rates. At present, the card purchase functionality is accessible to Exodus customers in the US, with intentions to broaden the service to other regions in the forthcoming months. Worldpay fintech growth and financial partnerships head Nabil Manji said: 'Worldpay's card payments capabilities for crypto purchases have been making it easier for consumers to buy their favourite assets for more than a decade, and companies like Exodus are working to empower consumers to protect their assets through self-custody. 'Meanwhile, Exodus's customers will enjoy even easier ways to buy Bitcoin and other cryptocurrencies directly within their own wallets.' Exodus CEO JP Richardson stated: 'Our number one focus is on delivering the best customer experience in the market, which is why we wanted to work with Worldpay to bring this critical feature to our platform. 'We couldn't be happier to be the first self-custodial wallet to enable native card payments directly embedded in our platform by working with Worldpay.' Recently, Worldpay collaborated with BVNK to provide stablecoin payout services to Worldpay's global clientele. "Exodus taps Worldpay to enable crypto purchase using cards " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
4 days ago
- Business
- Yahoo
Bitcoin Wallet Firm Exodus Unveils Crypto Debit Card With Baanx
U.S.-listed Exodus Movement (EXOD), a self-custody wallet firm specializing in bitcoin and other cryptocurrencies, has unveiled an Exodus debit card in partnership with Baanx, a crypto card enabler that works with Mastercard and Visa. Through the Baanx partnership, Exodus users can spend their crypto on everyday purchases such as travel, online shopping, and anywhere Mastercard is accepted, the firms announced at the BTC Vegas conference on Tuesday. Bringing debit card functionality to self-custody crypto holders is a fast-growing subset of the digital assets space, attracting a range of popular platforms such as Ethereum wallet firm MetaMask, decentralized finance firm 1inch and most recently, Sam Altman's World Network. Beta testing of the virtual Exodus card begins at BTC Vegas, starting with the two major stablecoins, USDT and USDC, which users can instantly swap for bitcoin and other major cryptos inside the Exodus wallet. A wider rollout to the six million or so Exodus users will happen later this year, said Exodus CEO JP Richardson. 'If you consider there are 1.7 billion people who are unbanked out there, well now they don't need a bank account because they can use something like this,' Richardson said in an interview. Baanx chief commercial officer Simon Jones echoed this view: 'You are effectively saying that if you've got access to a mobile phone, you've got access to a range of basic financial services,' Jones said in an interview. 'Historically, wallets were very much focused around the custodial element with some swaps and trading. Now we are really seeing an evolution happen where your wallet is becoming your virtual account.' In December of 2024, Nebraska-based Exodus was given the greenlight to list on the NYSE American, the New York Stock Exchange's sibling market, not long after Donald Trump's election victory. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Mayor
5 days ago
- Business
- Business Mayor
Exodus Launches XO Pay, An In-App Bitcoin And Crypto Purchase Solution
Exodus has officially launched XO Pay, a new crypto purchasing feature that allows users to buy and sell digital assets directly within the Exodus mobile wallet, and is now live across the United States. XO Pay aims to simplify the process for its users to easily purchase cryptocurrencies such as Bitcoin. XO Pay is powered by Coinme's Crypto-as-a-Service (CaaS) API platform and is a self custody Bitcoin wallet. This means customers can now purchase BTC within the wallet without going through third-party exchanges while keeping full control of their assets. 'XO Pay represents our commitment to making cryptocurrency more accessible to everyday customers,' said JP Richardson, Co-Founder and CEO of Exodus, in a recent press release sent to Bitcoin Magazine. 'By integrating the purchasing process directly into our mobile wallet, we're removing barriers and simplifying the journey from fiat to crypto, and back.' With XO Pay, Exodus offers a self custodial way to complete Bitcoin transactions. This rollout is part of Exodus' broader mission to make digital assets more secure, as the demand for Bitcoin is increasing. 'By creating a Web2 checkout experience into a Web3 self-custody wallet, Exodus has set a new bar for crypto user experience,' said Neil Bergquist, CEO and co-founder of Coinme. 'Exodus' innovative integration of Coinme's APIs delivers the seamless in-app purchase flow users expect while keeping them in full control of their assets.' READ SOURCE
Yahoo
14-05-2025
- Business
- Yahoo
Exodus Movement Inc (EXOD) Q1 2025 Earnings Call Highlights: Record Revenue and Strategic ...
Release Date: May 12, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Exodus Movement Inc (EXOD) reported its second-best quarter of revenue ever, with Q1 revenues reaching $36 million, a 24% increase year over year. The company successfully launched Echo, a demo product using passkeys wallet technology, resulting in over 1.2 million passkeys wallets being created. Exoswap, the multi-chain exchange aggregator, contributed significantly to Q1 performance, accounting for 30% of swap volume, up from 19% in Q4. Exodus Movement Inc (EXOD) has a strong balance sheet with $238 million in digital and liquid assets and no debt. The company is actively engaging in partnerships, with 7 active partnerships and 13 signed agreements, positioning Exoswap as a key revenue growth driver. The price of major cryptocurrencies like Bitcoin, Ether, and Solana declined significantly in Q1, impacting overall market conditions. Monthly active users decreased by 30% sequentially and 6% year over year, reflecting market fatigue and volatility. Echo, while successful as a demo, is not expected to have a material impact on the business in the short term. The revenue from Exoswap partnerships may experience short-term volatility due to the nature of partner promotional campaigns. Despite a strong balance sheet, macroeconomic headwinds and regulatory uncertainties continue to pose challenges for the crypto industry. Warning! GuruFocus has detected 4 Warning Sign with EXOD. Q: Can you provide commentary on the expected cadence of signing additional partnerships following the Ledger partnership? A: (JP Richardson, CEO) The Ledger partnership was significant for us, and we anticipate growth from additional partnerships. We are actively in discussions with major players, but these deals take time due to the trust and consumer base involved. While I can't promise immediate announcements, we are focused on leveraging partnerships like Ledger to grow our customer base through Exoswap. Q: How do the revenue and gross margin contributions differ between the core aggregator and Exoswap? A: (James Grantski, CFO) Exoswap's success in Q1 was partly due to a partner's promotional campaign. While Exoswap has a revenue share component, making it lower margin than our base aggregator, it has the potential to significantly contribute to our overall volume and revenue as we sign more partners. Q: Can you provide more details on the new partnerships and their interest in crypto? A: (JP Richardson, CEO) Our partnerships range from wallets to Web 3 projects, all interested in supporting cross-chain swaps. As more chains emerge, building multi-chain products becomes complex, and our experience since 2015 provides confidence to these platforms. We expect more wallets to expand their offerings across multiple chains, increasing potential Exoswap customers. Q: When do you expect Echo to launch commercially, and are there plans to expand it beyond the X platform? A: (JP Richardson, CEO) Echo currently focuses on X, leveraging passkeys wallet technology. While there are no immediate plans to expand to other platforms, it's a possibility. Echo is more of a demo to showcase our technology and experiment with gamification, rather than a revenue-generating product at this stage. Q: How should we think about take rates from exchange process volumes and the impact of the Ledger partnership? A: (James Grantski, CFO) The Ledger partnership is a strong case study for other Web 3 wallet providers, demonstrating high standards. While Exoswap's revenue share component means lower margins than our base aggregator, we focus on adding value through new products and partnerships, which could improve take rates over time. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
