Banxa, a Payment Service Provider for Digital Assets, Records Over 70% YOY Increase for March Quarter 2022

BANXA Holdings Inc. (TSX-V: BNXA) (FSE: AC00), which claims to be the world’s first listed payment service provider and Regtech platform for the digital assets industry, recently announced its March 2022 TTV, “recording AUD $81 million (USD $60 million).”

For the quarter ending March 31, 2022, the company “recorded a 71% year-on-year increase compared to the same reporting period in 2021, growing from AUD $207 million (USD $159 million) to AUD $355 million (USD $274 million), in line with the market conditions.”

In March, Banxa added 9 new partners to its network, “including Paxful, the large well-known peer-to-peer exchange platform with over six million users, Pionex the automated trading leader driven by crypto trading bots, and 1Inch, the top 10 DEX aggregator and a key player in the DeFi space.”

These new partners provide “significant growth opportunities and great exposure to existing and emerging markets.”

The business also “added 13 new coins across ten chains, including the highly anticipated APE (ApeCoin), CAKE (PancakeSwaP) and AXS (Axie Infinity).” Adding these new coins solidifies Banxa’s mission “to bridge the gap between the fiat and crypto worlds, creating more access points for millions of consumers worldwide to enter the cryptocurrency market.”

Holger Arians, Banxa CEO, stated:

“Over the past few months, we’ve seen the crypto market re-energize. Joining the wider crypto community at leading events in the last few weeks, including Miami NFT Week and NFT LA, we’ve seen increasing passion and support from the crypto industry regarding our continued investment and breadth in offering. We’re excited to be a part of the unique opportunities in the coming months, as we anticipate the market will accelerate quickly this year with the growing broader community interest.”

Banxa has also announced the departure of Dave Malcolm “as the Company’s Chief Marketing Officer. Dave was a steady guiding force for the company from its early days.”

Chloe Sasson, Banxa Chief of Staff, “will be stepping into the role for the interim.”

Holger Arians, Banxa CEO said:

“I would like to thank Dave for his immeasurable contributions to the company as we navigated our existence as a publicly traded company. We wish Dave only the best in his future endeavors.”

Banxa has also announced that it has “granted 40,000 Options to an officer of the Company. The Options vest over 24 months, have an expiry of 5 years and are exercisable at CAD $2.50.”

The company has “engaged the services of Generation IACP Inc. (“Generation”) to provide services as a market maker in compliance with the policies and guidelines of the TSX Venture Exchange and other applicable legislation.”

Generation will “receive a fee of CAD $7,500 plus applicable taxes per month.”

The agreement between the Company and Generation “is for an initial term of six (6) months and shall be automatically renewed for subsequent four (4) month periods (collectively, the “Term”) unless the Company provides written notice of termination to Generation at least 30 days prior to the end of the Term or Generation provides a written notice of termination to the Company.”

Commencing on the first anniversary of the agreement, “the fee payable to Generation will automatically increase annually by 3.0%”.

No stock options or other compensation “are being granted in connection with the engagement.”

Generation does “not currently own any securities of the Company; however, Generation and its clients may acquire an interest in the securities of the Company in the future.”

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