Nikolas Sargeant
Exodus Movement, a crypto wallet developer, gains NYSE approval to list its stock under ticker EXOD, with trading beginning May 9. CEO JP Richardson anticipates increased long-term value and broader awareness through the move.
NYSE American, catering to smaller market cap firms, offers Exodus a platform to expand its market presence and attract investors. With its stock already on OTCQX, Exodus assures no action is needed from existing stockholders for the transition.
Established in 2015, Exodus specializes in self-custodial wallet services for cryptocurrencies. Tokenizing its EXOD shares on Algorand blockchain, it claims a unique U.S.-based status.
In Q1 2024, Exodus reports $29.1 million revenue, a 118% surge year-on-year, with approximately 1.69 million monthly active users.
In other developments, ACINQ’s Phoenix Wallet and zkSNACKs’ Wasabi Wallet halt U.S. services amid regulatory pressures on self-custodial wallet providers, citing concerns over potential money laundering facilitation.
