Crypto wallet developer Exodus gets approval for NYSE American listing
Quick Take
- Exodus Movement’s EXOD will be uplisted to the NYSE American exchange on Thursday, the company said.
Crypto wallet developer Exodus Movement announced Monday that it received the approval for listing its common stock on the NYSE American. The stock, with ticker EXOD, will start trading on the platform on May 9.
“Trading on the NYSE American will allow Exodus to create greater long-term value for our stockholders by increasing our presence within the investor community and, in turn, increase liquidity,” Exodus CEO and Co-founder JP Richardson stated.
NYSE American, formerly known as the American Stock Exchange (AMEX), caters to companies with smaller market capitalization compared to the NYSE.
EXOD has been already been listed on the OTCQX market, and the latest approval will see Exodus’ stocks “uplisted” to the NYSE. The company added that existing stockholders need not take any action prior to the NYSE American listing. Exodus Movement, founded in 2015, develops self-custodial wallet services for bitcoin, ether and other crypto assets.
The company's EXOD security tokens, digital representations of Class A EXOD common shares, have been tokenized on the Algorand blockchain and can be managed on the Exodus wallets. Exodus says it’s the only company in the United States that has its common stock tokenized on the blockchain.
In its preliminary review for Q1, 2024, Exodus recorded a revenue of $29.1 million, which is up 118% compared to the same period last year. It had monthly active users of around 1.69 million in the first quarter.
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