Exodus crypto wallet starts trading on SEC registered platform

The large cryptocurrency wallet for software Exodus has gone public on the digital asset securities firm Securitize Markets after a $75 million capital raising via crowdfunding.

Exodus Shares started trading on Securitize on Wednesday, allowing investors from across the United States and international investors from more than 40 countries to trade Exodus Class A common stock.

Trading under the ticker symbol EXOD, Exodus Class A common stock is digitally represented on the Algorand blockchain via common stock tokens.

According to an Exodus spokesperson, Securitize Markets is the second trading platform to list Exodus shares after launch on tZero in September 2021. The new listing on Securitize will enable the company to onboard new private investors and raise funds, said Exodus CEO and co-founder JP Richardson:

“Securitize’s platform enabled us to onboard more than 6,800, mostly retail investors, and raise $75 million. Now, with Exodus stock trading on their platform, it’s all under one roof. We are very excited about the increased opportunity to trade our shares.”

As previously reported, Exodus has raised $75 million through a mini-initial public offering, approved by the U.S. Securities and Exchange Commission in May 2021. The SEC previously registered the Securitize platform as a transfer agent in 2019. The digital securities platform is supported. by a number of major crypto firms and investors, including Coinbase, Morgan Stanley investment funds and Blockchain Capital.

“Now that Exodus shares are available to private investors to trade on Securitize Markets, a larger market for their stocks, price discovery and liquidity potential has been created, and should set an example for many other private companies looking to raise capital from their community ” said Carlos Domingo, CEO of Securitize.

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Exodus initially sold its shares at a price of $27.42 per unit. According to the latest available data on TradingView, EXOD trade for $15.9 on March 14.

Exodus Class A Common Stock 90-Day Chart. Source: TradingView

Founded in 2015, Exodus is a major software cryptocurrency wallet integrated with a decentralized crypto exchange. Last week, the company reported nearly $96 million in revenue for fiscal year 2021, which is a 350% increase year over year.

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