“Our treasury allocation is a step towards a new era of financial control and self-custody,” said JP Richardson, Exodus CEO and Co-Founder. “We are thrilled to become part of Sovryn, a grassroots community that’s creating sound finance for sound money by building the leading Bitcoin DeFi platform. 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 is leading by example.”
In an environment where the banking services for crypto companies are increasingly unstable and centralized stablecoins have proven unreliable, Exodus's decision serves as a beacon of stability. By opting for DLLR, Exodus receives uninterrupted access to operational funds and a reliable store of value that can be self-custodied - a necessity in the rapidly evolving digital finance landscape.
Yago, core contributor to Sovryn, said: “Exodus' adoption of the Sovryn Dollar in their treasury showcases the value and stability of Bitcoin-backed stablecoins. This marks a significant milestone in Sovryn's mission to build sound finance with sound money. Sovryn and Exodus share a vision of decentralized, secure DeFi that empowers each individual to be their own bank. With Exodus’ extensive reach, we’re poised to bring decentralized financial services to a wider audience, democratizing access to the financial sovereignty that the Bitcoin network offers.”
About Exodus
Exodus is on a mission to help half the world exit the traditional finance system. Founded in 2015, Exodus is a multi-asset software wallet that removes the geek requirement and keeps design a priority to make cryptocurrency and digital assets easy for everyone. Available for desktop, mobile and browser, Exodus allows users to secure, manage and exchange cryptocurrencies like Bitcoin, Ethereum, and more across an industry-leading 10,000+ asset pairs from a beautiful, easy-to-use wallet. The self-custodial functionality is encrypted locally on users' own devices, ensuring privacy, security and complete control over their wealth. For more info visit exodus.com.
About Sovryn
Sovryn is the product of a deep love for Bitcoin. Its decentralized and community-based approach has brought it success in creating decentralized financial services on the Bitcoin network. Sovryn’s financial tools leverage self-custody to empower its users to trade, lend, borrow, or leverage their Bitcoin. The user-owned cooperative has been active since 2020.
Contact Exodus Customer Support
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Contact Sovryn
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Forward-Looking Statements
This press release contains forward-looking statements that are based on our beliefs and assumptions and on information currently available to us as of the date hereof. In some cases, you can identify forward-looking statements by the following words: "will," "expect," "would," "intend," "believe," or other comparable terminology. Forward-looking statements in this document include, but are not limited to, quotations from management regarding confidence in our products, services, business trajectory and plans, and certain business metrics. These statements involve risks, uncertainties, assumptions and other factors that are difficult to predict and may cause actual results or performance to be materially and adversely different.
Factors that might cause such a difference include, but are not limited to: expectations regarding future customer adoption of Exodus for dApps, DeFi and NFTs compared to its competitors; the impact of the COVID-19 pandemic on the health and safety of our employees, users, as well as the physical and economic impacts of the various recommendations, orders, and protocols issued by local and national governmental agencies in light of continual evolution of the pandemic, including any periodic reimplementation of preventative measures in various global locations; the ongoing conflict in
More information on the factors, risks and uncertainties that could cause or contribute to such differences is included in our filings with the
Source: Exodus
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