Cryptocurrency News

U.S. SEC Grants Operations Permission To Exodus Crypto Wallet.

Renowned cryptocurrency wallet provider Exodus recently received the green light from the U.S. SEC [Securities and Exchange Commission] to sell shares of its operation.

In line with an official public statement from Exodus earlier on Thursday: “Exodus Movement, Inc., a Delaware corporation that has developed a number one non-custodial cryptocurrency software platform, received notice that the SEC has qualified its offering of sophistication a common stock under Regulation A.”

The shares hit the market last night within the United States & are available via the wallet itself. For several years, Exodus has existed as a desktop wallet for cryptocurrency users, compatible with an array of digital assets. The wallet also hosts a feature that permits users to swap between assets within the wallet. Now, consistent with the statement, users can purchase Exodus shares via the app also.

Exodus filed with the SEC for a Regulation A offering in February, as detailed in its related paperwork. Regulation A offers a sort of exemption under which entities can sell unregistered shares, supported information from Investor.gov.

The Thursday statement outlined a price of $27.42 USD per unit of sophistication a common stock. Buyers can devour as little as one share or the max amount as 2,733,229 shares. “All investors must be registered with the Exodus agency Securitize,” the statement added, pointing toward two avenues for registration: via Securitize or within the Exodus wallet itself.

Shares can only be purchased by United States residents. Arizona, Florida, and Texas folks, however, cannot participate. The statement also added:

“Exodus is presently exploring collaborations with alternative trading systems [ATS] that would potentially expand the supply of Exodus shares. Exodus intends to form the category a standard stock available for trading on several ATS, along with the tZERO ATS within nine months of this offering.”

Cryptocurrency companies going mainstream has been hot news as lately, with Coinbase’s direct listing on the horizon, expected to occur on 14th April.

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