Exodus Movement (EXOD), a publicly traded crypto wallet company, said on Monday that it is acquiring Uruguay-based Grateful, a startup that offers stablecoin-based payments to merchants.
The move aims to expand Exodus’ presence in Latin America and deepen its foothold in commerce, particularly among gig workers and small businesses looking for faster and cheaper ways to get paid, Exodus CEO JP Richardson said in a press release.
Grateful’s software allows merchants to accept stablecoins through tools such as wallet-to-wallet payments, QR outlets and onchain invoicing. The company also offers a dashboard to manage transactions and convert crypto to local currencies. Exodus plans to integrate these features into its self-storage wallet system, which supports major blockchains including Solana and .
Exodus shares rose 5% on Monday amid a broader rally among digital asset-related stocks like bitcoin and other cryptos gained over the weekend.
This deal marks another entry in a growing list of crypto M&A aimed at building payment infrastructure on blockchain networks as stablecoins are increasingly in demand for global transactions. Earlier this year, payments firm Stripe acquired stablecoin technology provider Bridge and wallet firm Privy to bolster its crypto payment stack. In another deal, XDC Network acquired Contour to become a blockchain platform for stablecoin-based trade finance. Stablecoin volume used for payments could hit $1 trillion annually by the end of the decade driven by institutional adoption and regulatory clarity, Keyrock and Bitso predicted.
“Grateful is a natural complement to our efforts to expand access to digital payments and cryptocurrency in Latin America,” said Richardson. “The gig and creator economy is growing rapidly in emerging markets, and stablecoin-based payment rails enable important tools such as invoicing, recurring payments and on-chain settlements.”
In keeping with the stablecoin payment trend, Exodus unveiled a Mastercard crypto debit card with Baanx earlier this year to allow customers to pay with USDT and stablecoins.
Read More: Stablecoin Payments Expected To Top $1T Annually By 2030, Market Maker Keyrock Says
