From Exodus to Influx: New Acquisitions Poised to Drive Deeper Customer Engagements

研报英文原文证据摘录

From Exodus to Influx: New Acquisitions Poised to Drive Deeper Customer Engagements

May 12, 2026

and transactions.

4. XO Suite Customer Expansion: MetaMask, Ledger, Kraken, and OKX are among

the existing relationships brought by acquired companies.

5. International Card Issuance expansion: Management highlighted ongoing

collaboration with Visa around global card issuance opportunities, with

Argentina/LatAm, Nigeria, and the UAE identified as priority markets.

Source: Cantor Fitzgerald Research

Management said that growth for the next 6-12 months will come from partnerships,

further underscoring the importance of the company's recent transactions. By

integrating XO Suite into the newly acquired relationships such as MetaMask and

Kraken, Exodus will be able to distribute its existing products and technology provided

by Monavate and Baanx to new, larger customer bases. To this end, as announced

at the Exodus Summit earlier this month, Exodus became the official payments

partner of the UFC, an initiative that will further expand consumer mindshare for the

company's broadening product suite. By enabling Exodus to serve wider audiences

with established card and payments infrastructure servicing fintech, crypto, and

enterprise clients worldwide, we expect these efforts to stabilize EXOD's top line over

the next 6-12 months. Management suggested that ~40%+ of revenue could come

through the Monavate platform by 2027. That said, management noted that the

company is hoping to file pro forma post-acquisition financials during 2Q26, limiting

visibility for now.

The company also touched on expanding Exodus Pay, which is already live in 50

states and enabling customers to spend digital dollars at checkout. Looking forward,