Exodus Movement and Baanx Unveil Crypto Debit Card

U.S.-listed Exodus Movement (EXOD), a self-custody pockets agency specializing in bitcoin and different 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 customers can spend their crypto on on a regular basis purchases akin to journey, on-line procuring, and wherever Mastercard is accepted, the companies introduced on the BTC Vegas convention on Tuesday.

Bringing debit card performance to self-custody crypto holders is a fast-growing subset of the digital belongings area, attracting a spread of standard platforms akin to Ethereum pockets agency MetaMask, decentralized finance agency 1inch and most lately, Sam Altman’s World Network.

Beta testing of the digital Exodus card begins at BTC Vegas, beginning with the 2 main stablecoins, USDT and USDC, which customers can immediately swap for bitcoin and different main cryptos contained in the Exodus pockets. A wider rollout to the six million or so Exodus customers will occur later this 12 months, mentioned 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 mentioned in an interview.

Baanx chief industrial 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 mentioned 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 record on the NYSE American, the New York Stock Exchange’s sibling market, not lengthy after Donald Trump’s election victory.