Exodus launches Exodus Pay for Bitcoin and USDC in 5 states

Exodus rolled out Exodus Pay on Wednesday, enabling users to pay with Bitcoin and USD Coin (USDC) at merchants that accept Visa or Apple Pay in Nebraska, Texas, Florida, New York and California. The feature is built into the company’s self-custodial wallet app and appears as an automatic update for existing users.

The Omaha-based firm, which listed on the New York Stock Exchange in 2024, said Exodus Pay converts crypto to fiat at the point of sale so merchants receive standard card or mobile-wallet settlement. Supported assets include USD-backed stablecoins such as USDC and Bitcoin, with conversions performed as needed during transactions.

Exodus presents the service as an alternative to centralized payment platforms. JP Richardson, co-founder and CEO of Exodus, said, “Most payment apps are third parties that hold your funds for you.” He added that because users keep their private keys on their devices, the company cannot freeze accounts or reverse transactions.

To reduce the friction of self-custody, Exodus will subsidize network fees and allow transfers using phone numbers rather than long wallet addresses or seed phrases. Richardson described the goal as making the app intuitive for people with little or no crypto experience.

Regulatory rules limit the initial rollout to five states. The company expects to expand Exodus Pay nationwide within weeks and projects availability across the United States by mid-April. Existing wallet users will receive the payment capability through an automatic app update.

Exodus joins other crypto firms that offer payment options which convert digital assets at checkout. The company says the payment flow remains under user control and that conversion to fiat happens only at the point of sale.

Exodus develops a self-custodial wallet that stores private keys on users’ devices and has been adding payment and spending features to simplify seed phrases, network interactions and transaction fees.