Exodus, a number one developer of cryptocurrency wallets, has secured approval for itemizing its frequent inventory on the NYSE American alternate, marking a major milestone for the corporate. The inventory, recognized by the ticker image EXOD, is slated to start buying and selling on Might 9.
JP Richardson, CEO and Co-founder of Exodus, expressed enthusiasm concerning the itemizing, emphasizing its potential to boost long-term worth for shareholders by bolstering the corporate’s presence throughout the investor neighborhood and augmenting liquidity. The NYSE American, previously referred to as the American Inventory Alternate (AMEX), caters to firms with smaller market capitalization in comparison with its father or mother alternate, the NYSE.
Exodus’ EXOD inventory is at present listed on the OTCQX market, and the approval for itemizing on the NYSE American represents an “uplisting” of its shares. The corporate clarified that present stockholders needn’t take any motion previous to the itemizing.
Established in 2015, Exodus Motion makes a speciality of creating self-custodial pockets companies for numerous cryptocurrencies, together with bitcoin, ether, and others. Notably, the corporate’s EXOD safety tokens, which function digital representations of Class A EXOD frequent shares, have been tokenized on the Algorand blockchain, providing customers the flexibility to handle them on Exodus wallets. This initiative positions Exodus as the only real entity in america to have its frequent inventory tokenized on the blockchain.
In its preliminary evaluate for the primary quarter of 2024, Exodus reported a income of $29.1 million, marking a exceptional 118% enhance in comparison with the identical interval final yr. Moreover, the corporate boasted roughly 1.69 million month-to-month lively customers throughout the first quarter, underscoring its rising market presence and person engagement.
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