Crypto wallet developer Exodus to launch blockchain stock trading on NYSE

EXOD shares are tokenized using the Algorand blockchain

07.05.2024 - 09:50

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3 min

What’s new? Exodus Movement, the company behind the development of Exodus, a programmatic non-custodial bitcoin wallet, will go public on the New York Stock Exchange (NYSE). Exodus Movement has received authorization from the US Securities and Exchange Commission (SEC) to offer and sell Class A common stock, and it will also be available on the NYSE American, formerly known as AMEX. Trading in the company’s shares under the ticker EXOD will begin on May 9.

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What else is known? Exodus will be the first public company in the United States with tokenized shares. Exodus CEO and co-founder JP Richardson noted that the Algorand blockchain (ALGO) was used for tokenization. According to him, the move will simplify and speed up securities trading for investors.

Holders of EXOD shares on the blockchain will be able to access dividend payments in USDC stablecoins from US-based Circle.

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Richardson also allowed the possibility that the blockchain shares will be used to organize corporate governance through voting.

Exodus became a public company on April 8, 2021, by listing on broker-dealer tZero’s platform. Five days later, the company raised $60 million.

EXOD shares are currently traded on the OTCQX exchange and will be available there until May 8, after which trading will open on the NYSE.

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In January, Kaspersky Lab warned of malware that infiltrated macOS devices via pirated software and replaced Exodus Wallet and Bitcoin Wallet with infected versions.

Later, leading NFT marketplace Magic Eden launched a multi-chain, non-custodial crypto wallet with support for Solana, Bitcoin, Ethereum, and Polygon blockchains, developed in collaboration with the Exodus team.

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