The Exodus Movement, Inc Ushers In A New Age Of IPO

Exodus Movement, Inc Files With SEC For Regulation A IPO 

The Exodus Wallet is on the verge of making history with its planned IPO and we know that is saying a lot. There have been no few history-making IPO’s over the last few years and that’s not even mentioning the SPAC craze or even the Coinbase IPO slated for later this year. For those that don’t know, the Exodus Wallet is a non-custodial cryptocurrency wallet that serves over 10,000 cryptocurrency pairs and among the leading multi-asset cryptocurrency wallets worldwide. 

Not an exchange, the Exodus Wallet allows users to hold, buy, sell, and trade cryptocurrencies directly from their own desktop or mobile device via links with locally-regulated cryptocurrency exchanges. The non-custodial part is an important factor to note, it means that clients hold their own cryptocurrency ID keys, the Exodus Wallet parent company never does. 

Exodus Files A Regulation A Listing With A Twist 

Exodus Movement, Inc, the parent company of the Exodus Wallet, filed for a regulation A listing but not via the usual route. Instead of going public on Wall Street Exodus is going to list its shares on a blockchain. The coins will be bought and held on the Exodus wallet and potentially traded across the blockchain networks like any other cryptocurrency. 

The listing isn’t fully confirmed but those interested can subscribe to the potential offering using the Exodus wallet itself. After download and once approved subscriptions will be paid in cryptocurrencies like Bitcoin or Ethereum at $27.42 per share. Securitize, Inc will act as the transfer agent and owner of record. The company expects that qualified investors would receive their digitized Common Stock Tokens within 7 months of approval. 

The reason for the Regulation A offering is simple, it will allow Exodus to offer its shares to everyone equally at the same without giving priority to accredited investors or private equity firms. The reason for raising capital is so the company can continue to work on expanding the service. This way, Exodus Movement, Inc can raise money and showcase its technology at the same time. 

Among the hurdles faced by The Exodus Movement, Inc is where the CST’s will trade. Without an exchange for them to trade the listing is already dead in the water. That said, we are sure there are numerous exchanges including Coinbase that would find it in their best interest to list such a high-profile company. 

How Does Exodus Wallet Make Money? 

The Exodus Wallet is free to download and free to use. The only fees that users pay are the gas fees and transaction costs imposed by the blockchains and networks so how does Exodus Wallet make money? The Exodus Wallet makes money by licensing API access to its platform to 3rd party developers. With over 1 million active users the Exodus Wallet platform is an attractive target for developers, especially in the defi space. The Exodus Wallet already hosts one application called Compound Finance that allows users to deposit DAI tokens into a liquidity pool and earn a 6% variable APY. With the boom in defi that is going on now, we expect to see the number of uses and options for Exodus users to grow exponentially over the next few years. 

The Real Opportunity In The Exodus Movement, Inc IPO 

The real opportunity in the Exodus Movement, Inc IPO isn’t in going public but in proving that it is technologically viable and in a way approved by the SEC. Once the listing is completed the company can license its technology to other companies wanting to do the same thing and then host their Common Stock Tokens in the Exodus Wallet. It could be worth billions.