Exodus Movement Expands into Crypto Payments, Reducing Reliance on Swap Fees

Exodus Movement is expanding its business from a self-custody wallet provider to include crypto payments, according to Benchmark. This strategic shift is expected to lessen the company's dependence on crypto swap fees. The expansion follows Exodus Movement's acquisition of W3C and its payment firm subsidiaries Monavate and Baanx in late 2025. Benchmark has reiterated a Buy rating for Exodus Movement and maintained a price target of $21, highlighting the potential benefits of this business transformation.