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Project Overview
Monavate is a UK company (Principal Scheme Member of Visa & Mastercard) specializing in modern card issuance infrastructure, providing highly flexible card issuance solutions for fintech, Web3 projects, travel, insurance, media buying and enterprises, including virtual cards, physical cards, B2B payments and stablecoin/blockchain integration.
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Crypto Wallet Company Exodus Lays Off 25%, Bets on Stablecoin Payment Sector
According to CoinDesk, crypto wallet company Exodus Movement (EXOD) announced it is laying off approximately 25% of its global workforce. This layoff is part of its strategic transformation — the company is shifting its business focus to stablecoin payments and card infrastructure, aiming to build a full-stack payment platform. The restructuring is expected to incur pre-tax expenses of $2.5 million to $3.5 million, primarily for severance pay and employee-related expenses, while simultaneously expected to save $10 million to $13 million in operating costs annually, with full benefits realized by 2027. Amid this restructuring, Exodus is continuing to integrate its two acquisitions — electronic money institution Monavate and crypto payment company Baanx. EXOD's stock price rose 2.2% in early trading on Monday, but remains down approximately 85% compared to the same period last year.
Exodus Cuts 25% of Global Workforce, Shifts Focus to Stablecoin Payments and Card Infrastructure
Odaily News: Exodus is laying off 25% of its global workforce to reduce costs and refocus its business on stablecoin payments and card infrastructure. The company stated that this restructuring is part of its strategy to build a full-stack payment platform following the acquisitions of Monavate and Baanx. It expects to save $10 million to $13 million in annual cash operating expenses by 2027, with restructuring costs of $3.5 million.
MoonPay Launches Stablecoin Debit Card for AI Agents
According to The Block, MoonPay has launched the stablecoin debit card “MoonAgents Card,” enabling AI agents and users to spend directly from on-chain wallets. The card is integrated with the Mastercard network and issued by Monavate, a regulated global payment platform.