This capability is enabled by the company’s new XO Pay service, which was developed by Exodus and is powered by Coinme’s crypto-as-a-service application programming interface (API) platform, Exodus said in a Tuesday (May 27) press release.
XO Pay is available to customers across the United States, except New York and Vermont, according to the release.
The service supports Bitcoin, Ethereum, Dogecoin, Polygon, Litecoin, Chainlink, Stellar and USD Coin, the release said. It allows customers to make purchases using Visa or Mastercard debit cards, Apple Pay or Google Pay.
“By integrating the purchasing process directly into our mobile wallet, we’re removing barriers and simplifying the journey from fiat to crypto, and back,” Exodus Co-founder and CEO JP Richardson said in the release.
Users of the Exodus Mobile app can initiate a purchase by tapping a “Buy & Sell” icon, selecting their desired cryptocurrency and purchase amount, choosing XO Pay as their provider, and completing the verification process through which the platform will guide them, according to the release.
Customers can complete purchases in under 60 seconds and get support from Exodus’ customer service team when needed, per the release.
“Exodus’ innovative integration of Coinme’s APIs delivers the seamless in-app purchase flow users expect while keeping them in full control of their assets,” Coinme CEO and Co-founder Neil Bergquist said in the release.
Exodus reported in a May 12 earnings release that during the first quarter, it had 1.6 million monthly active users, 1.8 million quarterly funded users, and $2.18 billion in exchange provider processed volume.
“Exodus continues to offer innovative solutions that capitalize on the growing market for digital assets,” Richardson said at the time in a press release.
On Feb. 20, the company announced the integration of Venmo as a payment method, saying this enables Venmo users to buy cryptocurrency through their Venmo accounts via the Exodus Mobile wallet.
Coinme announced in May 2024 that its cryptocurrency cash exchange had surpassed $1 billion in retail sales, 10 years after launching its first licensed bitcoin ATM.
