Exodus Rolls Out ‘Exodus Pay’ to Turn Bitcoin Wallet Into Spending App

Exodus, the publicly traded crypto wallet provider, started rolling out a new ‘Exodus Pay’ feature on Wednesday, aiming to transform its self-custody storage app into a tool for everyday payments. The launch is currently limited to users in five states, including New York and California.

The Omaha-based company listed its shares on the New York Stock Exchange in 2024 and says the new feature expands the role of its wallet beyond storage to payments. The company positions the service as an alternative to centralized payment apps.

“Most payment apps are third parties that hold your money for you,” Exodus co-founder and CEO JP Richardson told me. Declutter. “That means they can freeze your account, reverse transactions and decide what you can buy.” Exodus, on the other hand, cannot do that because users retain control of their money at all times.

The company says Exodus Pay works within the existing wallet app and allows users to spend USD-backed stablecoins, such as USDC or Bitcoin, at merchants that accept Visa or Apple Pay.

“The problem with self-control so far has been friction. Seed phrases, complicated networks — most consumer experiences with self-control aren’t built for someone who just wants to pay for groceries or send money to friends,” says Richardson.

To encourage adoption, Exodus says it will subsidize network fees and allow transfers via phone numbers. The service remains geographically limited due to regulatory requirements. It is currently only available in Nebraska, Texas, Florida, New York and California.

Richardson said the company has focused on simplifying the user experience, claiming that “someone with no crypto experience should be able to use an app intuitively.”

Exodus joins a growing list of crypto wallet developers that let customers pay for purchases using crypto or stablecoins, including Coinbase, BitPay and PayPal.

After the initial launch, Richardson said the company plans to expand the service nationwide in the coming weeks.

“By mid-April, everyone in America will have Exodus Pay in their app,” Richardson said. For existing users, the feature will appear as an automatic update rather than a new download. “If you already have Exodus, you have Exodus Pay,” he added.