Banxa Holdings Inc. (TSXV: BNXA) is pleased to announce the appointment of Zafer Qureshi as Co-CEO, joining forces with Holger Arians.
This strategic move aims to “leverage their combined expertise to propel Banxa into a new era of growth and innovation.”
Holger Arians, Chairman and Co-CEO, expressed his enthusiasm for the new leadership structure:
“Zafer’s addition to the team has been instrumental in Banxa’s journey over the past 12 months. Zafer and I have worked closely to transform Banxa from a loss-making entity into a sustainably profitable business. Our complementary skills and shared vision make this co-leadership model an exciting development for Banxa. Together, we are committed to driving Banxa’s continued success and delivering exceptional value to our stakeholders.”
Zafer Qureshi, Executive Director and newly appointed Co-CEO, echoed Holger’s sentiments:
“I am excited to formalize Holger and my leadership with my appointment as Co-CEO of Banxa. Our collaboration has already yielded significant results, and I am confident that our partnership will enable us to seize new opportunities and successfully navigate the challenges ahead. Banxa has consistently been ahead of the curve and with Web3 becoming more mainstream, we are poised to lead Banxa into a future brimming with potential as we expand our embedded crypto infrastructure.”
Under their leadership, Banxa has achieved key milestones, “including reaching sustainable profitability in the March quarter and scaling its business efficiently.”
The company has also “seen meaningful de-risking and balance sheet improvement by buying out the senior secured convertible note, a significant reduction in the cost of working capital funding – current weighted average cost of sub 15% APR – and greater focus on profitable growth.”
The company believes Holger and Zafer’s leadership “has driven Banxa to deliver its best quarter (March 2024) in its history, showcasing the efficacy of their partnership.”
With this dual leadership model, Banxa is set to center into its next chapter, focused on “ensuring sustained growth and market dominance.”
As covered, Banxa is the infrastructure provider “for enabling embedded crypto – empowering businesses to embed crypto seamlessly into their existing platforms and unlocking new opportunities in the rapidly evolving crypto economy.”
Through an extensive and growing network of global and local payment solutions and regulatory licenses, Banxa helps businesses “provide seamless integration of crypto and fiat for global audiences with lower fees and higher conversion rates.”
Headquartered in the USA, Europe, and Asia-Pacific, the Banxa team is “building for a world where global commerce is run on digital assets.”