Exodus Launches Crypto Debit Card in Partnership with Baanx
Exodus Movement (EXOD) has launched an Exodus debit card in partnership with Baanx, enabling users to spend cryptocurrencies for everyday purchases wherever Mastercard is accepted. This announcement was made at the BTC Vegas conference.
- The card will initially support USDT and USDC, allowing instant swaps for other cryptocurrencies within the Exodus wallet.
- Beta testing begins at BTC Vegas, with a broader rollout planned for later this year to approximately six million users.
- This development is part of a growing trend among self-custody wallets to offer debit card functionalities.
- Exodus CEO JP Richardson highlighted that the card could serve the unbanked population, estimated at 1.7 billion globally.
- Baanx's CCO Simon Jones noted that mobile phone access equates to access to basic financial services, evolving wallets from custodial functions to virtual accounts.
- In December 2024, Exodus received approval to list on NYSE American.