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What would be the impacts of Exodus Wallet shares trading on Securitize Market?

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Pratik Chadhokar

Exodus counts among leading crypto wallets that now went public, and its services are available on SEC registered securities platforms

Crypto wallets make relevance even after exchange firms allot native account wallet services. The wallets are meant for strictly keeping the user’s digital assets and gives more authority and security over the assets. MetaMask, Exodus, etc are among some of these leading crypto wallets.

Recently Exodus has gone public on Securitize Markets, a digital assets securities firm. The wallet was made on the platform after raising the capital of $75 via crowdfunding. Crypto wallet shares from Wednesday started trading on Securitize and allow investors from across the United States and other international investors from over 40 countries to trade Class A common stock of Exodus. 

The ticker symbol under which Exodus is trading is EXOD and its Class A common stock, represented digitally on the Algorand blockchain through common stock tokens. 

A spokesperson for Exodus stated that Securitize Markets was the second trading space for the firm to share its shares after being launched on tZero in Sept 2021. The new listing of crypto wallets in Securitize enables Exodus to onboard new retail investors and raise funds. 

About the listening, CEO and co-founder of Exodus JP Richardson said that the platform of Securitize enabled them to bring more than 6800 investors, mostly retail investors and raise $75 million in funds. Now, as it started trading on the platform, all have come under one roof. CEO puts excitement on their increased ability to trade their shares via Securitize Markets like platforms. 

Earlier reports stated that the crypto wallet raised more than $75 million in a mini IPO, which is an initial public offering sale that was approved by the US SEC that is the Security and Exchange Commission, in May last year. 

Securitize had registered itself on the SEC as a transfer agent way back in 2019. The digital securities behind the backing of the platform include major crypto players and investors like Coinbase, Blockchain Capital and Morgan Stanley investment funds. 

Exodus sold its shares initially at a price of $27.4 per unit. As of today, on 17th march, the price is trading at $15.52 per share. 

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