Exodus, the publicly traded crypto wallet provider, has rolled out "Exodus Pay," a new feature designed to convert its self-custodial wallet app into a tool for everyday payments. Initially available in five U.S. states, including New York and California, the service aims to reduce reliance on centralized payment platforms.
Exodus co-founder and CEO JP Richardson highlighted that unlike third-party payment apps which can freeze accounts or reverse transactions, Exodus Pay ensures users maintain full control over their funds. The feature allows spending of USD-backed stablecoins, such as USDC, or Bitcoin at merchants accepting Visa or Apple Pay.
To boost adoption, Exodus is subsidizing network fees and enabling transfers via phone numbers. The rollout is currently restricted to Nebraska, Texas, Florida, New York, and California due to regulatory requirements. Exodus plans to expand the service nationwide within weeks, expecting availability across America by mid-April through an automatic app update.