Exodus, a leading developer of cryptocurrency wallets, has achieved an important milestone for the company by receiving approval to list its common stock on the NYSE. The stock, identified by the ticker EXOD, is scheduled to begin trading on May 9.
Exodus CEO and co-founder JP Richardson expressed enthusiasm for the listing, highlighting its potential to enhance long-term value for shareholders by strengthening the company’s position within the investor community and increasing liquidity. NYSE American, formerly known as the American Stock Exchange (AMEX), serves companies with smaller market capitalizations than its parent exchange, the NYSE.
Exodus’ EXOD stock is currently listed on the OTCQX market, and NYSE American listing approval signifies the “listing” of the stock. The company has made it clear that existing shareholders do not need to take any action prior to listing.
Founded in 2015, Exodus Movement specializes in developing self-managed wallet services for various cryptocurrencies, including Bitcoin and Ethereum. Specifically, the Company’s EXOD security tokens, which serve as a digital representation of Class A EXOD common stock, will be tokenized on the Algorand blockchain, providing users with the ability to manage them in the Exodus Wallet. This initiative positions Exodus as the only company in the United States tokenizing common stock on the blockchain.
Exodus announced in its preliminary review for the first quarter of 2024 that it recorded sales of $29.1 million, a remarkable increase of 118% compared to the same period last year. The company also recorded approximately 1.69 million monthly active users in the first quarter, highlighting its growing market presence and user engagement.
Featured Image: Freepik
Please see disclaimer