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Blockchain

Banxa Announces October Record Transaction Volume of $162 Million

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Highlights:

  • October Total Transaction Volume (TTV) of $162 million AUD [USD $120m]
  • Growth of 28% month-on-month
  • The company has signed 16 new partners in October
  • Since IPO in January 2021 the company has grown the Partner Network by 93% – from 38 to 74

Toronto, Ontario and Melbourne, Australia–(Newsfile Corp. – November 8, 2021) – BANXA Holdings Inc. (TSXV: BNXA) (OTCQX: BNXAF) (FSE: AC00) (“Banxa” or “The Company”), the world’s first public payment service provider (PSP) and compliance RegTech platform for the digital asset industry, is pleased to announce the October 2021 TTV results are the largest ever recorded.

Banxa provides RegTech (Regulation Technology) services for cryptocurrency exchanges, DeFi platforms and digital asset wallets alongside its payment services, allowing users of platforms in the “Banxa Network” to easily and securely convert fiat currency to cryptocurrencies, and back again. With the regulatory focus squarely on the burgeoning digital asset industry in multiple jurisdictions, Banxa’s service allows crypto platforms to focus on business growth while the company brings the highest conversion rates and best experience to their users.

Since its January 6th, 2021 IPO, the company has gone from strength to strength, growing from 38 to over 150 team members, adding over 30 new coins, and additional payment methods, such as SEPA Instant, and others. Additionally, the company has accelerated its already rapid onboarding of new partners, adding a further 16 new partners in October.

Holger Arians, CEO of Banxa said. “Speed is critical in the digital asset space and the market will continue moving at a rapid pace. In the past six months we’ve scaled our teams in anticipation of this, with expanded customer service, operations and technology resources so that we are able to fulfil more orders, and get assets to customers within minutes. In the past 12 months we’ve increased our automated throughput of purchases that require no manual intervention by 513%, allowing us to capture a greater share of the market. We’ve also focused on improving the experience of all customers, and the conversion rates of our partners.”

LATEST RESEARCH REPORTS

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A number of research reports are available on the following link:
https://bit.ly/BNXA-8Nov21-Latest

SEPTEMBER QUARTER FINANCIALS

Banxa Holdings inc or the “Company” is expected to announce its September quarter 2021 accounts on Tuesday 30th November 2021.

SHARE ISSUE

Banxa Holdings inc or the “Company” announces the issuance of 35,000 additional common shares (the “Shares”) in the capital of the Company to SRAX, Inc. (“SRAX”), at a deemed price of $4.00 per Share, as consideration for certain customer acquisition services rendered by SRAX to the Company pursuant to the terms of a platform account agreement (the “Platform Agreement”) previously announced in the Company’s press release dated May 17, 2021. All amounts owing to SRAX pursuant to the Platform Agreement have now been settled. The Platform Agreement was approved by the TSX Venture Exchange on July 6, 2021.”

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SHORT TERM LOAN

Banxa Holdings inc or the “Company” announces that it was provided with a short-term unsecured loan facility from two director related entities in October 2021 to assist the Company with the funding of working capital due to material increases in transaction volumes in October and November. A total of $5m AUD was advanced on an arm-length basis. $1m AUD was advanced in the form of crypto currencies and $4m AUD was advanced in the form of cash. The loan is to be repaid within the next 10 business days. The finance costs for this short-term facility are estimated to be $32,000 AUD.

ON BEHALF OF THE BOARD OF DIRECTORS
Per: “DOMENIC CAROSA” https://twitter.com/dcarosa
Domenic Carosa
Chairman (1-888-218-6863)

ABOUT US

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Banxa Holdings Inc. (TSXV: BNXA) (OTCQX: BNXAF) (FSE: AC00)

Banxa powers the world’s largest digital asset platforms by providing payments infrastructure and regulatory compliance across global markets. Banxa’s mission and vision is to build the bridge that provides people in every part of the world access to a fairer and more equitable financial system. Banxa is headquartered in Melbourne, Australia, with European headquarters in Amsterdam, the Netherlands.

For further information go to www.banxa.com

This news release may contain “forward-looking statements” within the meaning of applicable Canadian securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies.

These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance.

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Banxa’s statements expressed or implied by these forward-looking statements are subject to a number of risks, uncertainties, and conditions, many of which are outside of Banxa’s control, and undue reliance should not be placed on such statements. Forward-looking statements are qualified in their entirety by the inherent risks and uncertainties of the Company’s business, including: Banxa’s assumptions in making forward-looking statements may prove to be incorrect; adverse market conditions, including risks related to COVID-19 and risks that future results may vary from historical results.

Except as required by securities law, Banxa does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For Further Information, see www.banxa.com

CONTACTS:
Investor Relations:
North America: +1 (604) 609 6169
International: +61 451 744 080
Email: [email protected]

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Lytham Partners, LLC
Ben Shamsian
New York/Phoenix
Email: [email protected]

Media Contacts:
Liam Bussell, Head of Corporate Communications
Email: [email protected]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/102425

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Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

Blockchain

LCT Secures VARA In-Principle Approval, Defining Its Role in Dubai’s Crypto Landscape

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Blockchain

Bybit One-Click Buy Offers a Winning Chance in First-Time Deposits Lucky Draws

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Blockchain

Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)

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blocks-&-headlines:-today-in-blockchain-(blackrock,-plume,-sealsq,-hedera,-deutsche-bank,-kucoin)

 

Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:

BlackRock ETF Embraces Blockchain with First Muni Bond Purchase

BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.

By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.

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Source: Yahoo Finance

Plume Secures Funding for Tokenization Platform

Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.

Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.

Source: Fortune

SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips

SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.

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As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.

Source: The Quantum Insider

Deutsche Bank’s Public, Permissioned Blockchain Initiative

Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.

The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.

Source: CoinDesk

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KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands

Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.

By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.

Source: PR Newswire

Industry Implications and Key Takeaways

Today’s developments highlight the transformative potential of blockchain across multiple domains:

  1. Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
  2. Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
  3. Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
  4. Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
  5. Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.

The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.

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