Bitcoin Wallet Manufacturer Exodus Moves to the New York Stock Exchange


According to Exodus, its EXOD common stock will be tokenized on the blockchain, making it the only American company doing so.According to Exodus, its EXOD common stock will be tokenized on the blockchain, making it the only American company doing so.

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The company announced on Monday that Exodus Movement, the software developer behind the Exodus Wallet for Bitcoin, has received approval to list its common stock on the New York Stock Exchange.

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The NYSE’s EXOD ticker denotes a recent increase in enforcement actions by government regulators against cryptocurrency projects and developers. Although that should undoubtedly raise some red flags, JP Richardson, the CEO and co-founder of Exodus, stated that the company has received approval from the U.S. Securities and Exchange Commission and is authorized to trade on NYSE American, formerly known as the American Stock Exchange (AMEX).


The only company in the US with tokenized common stock is us, according to Richardson, “because our common stock is tokenized on the Algorand (ALGO) blockchain.” This is a really cool feature. “That is accurate as of right now, and it is accurate as of Thursday as well.”

Exodus is able to raise money from the public in a controlled way thanks to its SEC qualification, which indicates that the business has been given permission to offer and sell shares of its Class A common stock to investors in accordance with Regulation A of the Securities Act.

In 2021, Exodus went public by listing its stock on the broker-dealer tZero. Exodus started selling common stock on April 8 and raised $60 million by April 13, 2021.

The EXOD stock, which is currently traded on the OTCQX exchange, will stay available there until May 8, according to the company. On May 9, it will start trading on the NYSE American.


According to Richardson, one advantage of tokenizing the EXOD stock is that it will facilitate and expedite investor trading.

According to him, “it functions exactly like a cryptocurrency, which is amazing in terms of usability.” Beyond that, if you consider consequences such as dividend payments, we may use USDC to distribute dividends to stockholders on a blockchain.

“Corporate governance could be implemented through direct voting and governance on the blockchain using stock,” he continued.

Richardson called it a new era of stocks being tokenized on the blockchain and expressed optimism about the future of publicly traded digital assets despite the SEC’s crackdown on cryptocurrencies.

He declared, “We envision a time when traditional stocks are powered by the blockchain.” “I believe that’s the best part of all this hard work we’re doing,”CRYPTOCASTER® - DECENTRALIZED FREEDOM!

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