Share this article
Bitcoin Wallet Firm Exodus Unveils Crypto Debit Card With Baanx
Exodus users can spend their crypto anywhere Mastercard is accepted, according to an announcement at the BTC Vegas conference on Tuesday.
Updated May 27, 2025, 5:08 p.m. Published May 27, 2025, 10:00 a.m.
Make us preferred on Google
What to know:
- Beta testing of the virtual Exodus card begins at BTC Vegas, starting with the two major stablecoins, USDT and USDC.
- A wider rollout to the six million or so Exodus users will happen later this year.
U.S.-listed Exodus Movement (EXOD), a self-custody wallet firm specializing in bitcoin and other 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 users can spend their crypto on everyday purchases such as travel, online shopping, and anywhere Mastercard is accepted, the firms announced at the BTC Vegas conference on Tuesday.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Bringing debit card functionality to self-custody crypto holders is a fast-growing subset of the digital assets space, attracting a range of popular platforms such as Ethereum wallet firm MetaMask, decentralized finance firm 1inch and most recently, Sam Altman’s World Network.
Beta testing of the virtual Exodus card begins at BTC Vegas, starting with the two major stablecoins, USDT and USDC, which users can instantly swap for bitcoin and other major cryptos inside the Exodus wallet. A wider rollout to the six million or so Exodus users will happen later this year, said 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 said in an interview.
Baanx chief commercial 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 said 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 list on the NYSE American, the New York Stock Exchange's sibling market, not long after Donald Trump’s election victory.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Stablecoins moved $35 trillion last year but only 1% of it was for 'real world' payments
While stablecoins settled around $35 trillion last year, only around 1% of that represented genuine payments like remittances and payroll, a new report found.
What to know:
- Stablecoins processed more than $35 trillion in transactions last year, but only about 1% of that reflected real-world payments, a report by McKinsey and Artemis Analytics found.
- The study estimated that roughly $390 billion in genuine stablecoin payments, such as vendor payments, payrolls, remittances and capital markets settlements.
- Despite rapid growth and increasing interest from traditional payment firms like Visa and Stripe, true stablecoin payments still account for just a tiny fraction of the more than $2 quadrillion global payments market, the report said.
Top Stories
