Exodus Movement, a cryptocurrency wallet provider based in Omaha, Nebraska, disclosed plans to cut approximately 25 percent of its global workforce as part of a strategic pivot toward a full-stack stablecoin payments platform.

The restructuring, detailed in a Monday regulatory filing, aims to support integration of recent acquisitions and generate annual cash operating expense savings of $10 million to $13 million, with full benefits expected in 2027. The company will incur one-time pre-tax restructuring charges of $2.5 million to $3.5 million, primarily related to severance.

The moves follow the acquisitions of Monavate, a European electronic money institution, and Baanx, a cryptocurrency payments firm. These deals provide regulatory licensing, card issuance capabilities and infrastructure to expand into payments services. The company intends to leverage its existing wallet user base as a distribution channel for the new offerings.

Shares of Exodus Movement rose 2.2 percent in early trading on the announcement. The stock remains down approximately 85 percent over the past year.

The workforce adjustments reflect a shift in required skills from blockchain development and user experience to compliance, banking relations and payments expertise. The changes are intended to align costs with the demands of building a vertically integrated payments business.