Hogan Lovells advises Exodus Movement Inc. on $175 million acquisition of Monavate and Baanx via W3C Corp

Hogan Lovells and Gibson Dunn advised Exodus Movement Inc. on its $175 million acquisition of Monavate Holdings Limited and certain assets of Baanx Group Ltd. The transaction was structured using a special purpose vehicle, W3C Corp, which first acquired Monavate and the Baanx assets and was then itself acquired by Exodus. Monavate and Baanx provide issuing, processing and regulatory capabilities that Exodus intends to integrate into its existing consumer and enterprise product suite. Through the acquisition, Exodus will take ownership of the underlying card and payments stack, reduce reliance on third‑party providers and enable support for a broader range of assets, including widely used payment stablecoins. The deal also positions Exodus to issue payment cards via networks such as Visa, Mastercard and Discover and to expand its geographic reach to support new products and partnerships across the US, UK and EU. Hogan Lovells represented Exodus Movement Inc. with a team composed by: John Salmon (Partner; Co‑Chair, Digital Assets and Blockchain practice), Anthony Doolittle (Partner, M&A), James Black (Partner, Financial Services), associates Aled Luckman and Ben Littlewood (M&A), consultant Luke Grubb, Senior Associate James Sharp, Associate Diana Suciu, Foreign Law Clerk Rachel Dale (New York) and Associate Magdelena Medarova (advising on technology and regulatory matters). Gibson Dunn advised on the transaction.

Hogan Lovells advises Exodus Movement Inc. on $175 million acquisition of Monavate and Baanx via W3C Corp

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