In a significant move for the cryptocurrency industry, Exodus Movement, Inc. (OTCQX: EXOD) is poised to make its debut on the NYSE American stock exchange. The self-custodial cryptocurrency software platform will begin trading under its current symbol “EXOD” on December 18, 2024, transitioning from the OTCQX market.
This uplisting represents a major step for Exodus, potentially increasing its visibility and liquidity in the financial markets. CEO and co-founder JP Richardson expressed enthusiasm about the move, stating, “It’s crucial that America’s innovative companies can trade on America’s premier stock exchanges.”
The company’s journey to the NYSE American comes on the heels of strong performance in Q4 2024. Exodus reported a significant increase in exchange provider volume, reaching $1.26 billion for October-November 2024, surpassing the previous quarter’s $0.96 billion. This growth reflects the increasing adoption and trading activity in the cryptocurrency space.
Exodus has also bolstered its cryptocurrency holdings. As of December 11, 2024, the company held over 1,900 Bitcoin and 2,660 Ethereum, with Bitcoin holdings increasing by more than 100 units since Q3. This accumulation strategy aligns with the company’s practice of receiving revenue primarily in Bitcoin and USDC.
The uplisting to NYSE American follows the completion of the SEC staff’s review of Exodus’s Form 10-12 registration statement. This regulatory milestone paved the way for the company’s move to a major U.S. stock exchange, potentially opening doors to a broader investor base.
Founded in 2015, Exodus has established itself as a leader in user-friendly crypto software solutions. The company’s multi-asset crypto wallets are designed with a focus on accessibility and ease of use, catering to both individuals and businesses. Exodus offers self-custodial wallets, giving users full control over their funds and the ability to swap, buy, and sell cryptocurrencies.
In addition to its consumer-facing products, Exodus has developed business solutions such as Passkeys Wallet and XO Swap, providing tools for embedded crypto wallets and swap aggregation. These offerings position the company at the forefront of the evolving digital asset landscape.
As Exodus prepares to join the ranks of NYSE American-listed companies, it marks a significant moment for the cryptocurrency industry. The move could be seen as a step towards further legitimization and mainstream acceptance of crypto-focused businesses in traditional financial markets.
