Crypto wallet Exodus adds Bitcoin-backed stablecoin Sovryn Dollar to balance sheet
Stay updated on Pro Crypto Ecosystems news by locking ACS tokens with The Block.No wallet? No problem. You can set one up for free. We recommend Torus for first-time users.Exodus Movement Inc., a crypto wallet provider, has added Bitcoin-backed stablecoin Sovryn Dollar to its balance sheet.
The initial allocation in DLLR represents around 25% of Exodus's quarterly interest income, the company said in an announcement shared with The Block, without specifying a dollar figure. The addition of DLLR to its corporate treasury will help Exodus access operational funds continuously without depending on banking services, according to JP Richardson, co-founder and CEO of Exodus.
"Our treasury allocation is a step towards a new era of financial control and self-custody," Richardson said in the statement."Besides taking its place on our corporate balance sheet, the Sovryn Dollar asset will soon be available to all of Exodus' users across Desktop, Mobile, and our Web3 Wallet." Exodus was founded in 2015 and provides a multi-chain crypto software wallet. It claims to have around 4 million users. As for
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