BANXA Provides Business Update and Integration with Prominent Brands

Marc Zerbola Challande

September 25, 2023

min read

Article Highlights

Financial Success: Banxa has achieved significant financial success, with notable increases in its Total Transaction Volume (TTV) and an improved net take rate despite challenging market conditions.
Strategic Partnerships: The company has formed strategic partnerships with major brands like Ledger, Animoca Brands, and Worldline, expanding its reach and enabling users to engage in cryptocurrency transactions seamlessly.
Regulatory Compliance and Licensing: Banxa has made substantial progress in obtaining licenses and regulatory approvals, positioning itself to operate in multiple jurisdictions, including the United States, with the aim of facilitating future growth and expansion.

In recent weeks, Banxa Holdings Inc. has made significant strides in its business operations. The company, known for its leading payments infrastructure, has attracted new blue-chip partners and achieved notable financial success. This article will provide an overview of Banxa's recent progress, including key business updates and integrations with prominent brands such as Animoca Brands, Worldline, and Ledger. Additionally, we will explore the management's market buy initiative and other noteworthy developments within the company.

Financial Highlights

Banxa has maintained a solid financial trajectory despite challenging market conditions. Preliminary unaudited financial data reveals positive trends, including an increase in the total transaction volume (TTV) and a significant improvement in net take rate. The company achieved a TTV of approximately AUD $73.2M (USD $46.4M) and AUD $74.8M (USD $47.4M) in July and August 2023, respectively. This growth can be attributed to increased operational efficiencies, which have led to a consistent net take rate above 3%. Banxa's total liquidity and cash position at the end of August 2023 stood at AUD ~$10.1M (USD ~$6.5M) and AUD ~$5.1M (USD ~$3.3M), respectively.

Integration with Ledger

Banxa recently partnered with Ledger, a major global non-custodial wallet with millions of users. This collaboration allows Ledger users to access Banxa's on-ramping services, providing seamless integration between the two platforms. The integration went live on September 12th, enabling Ledger users to easily engage in cryptocurrency transactions through Banxa's infrastructure.

Bitcoin.com and Banxa partnership kicks off with VERSE integration | Banxa Blog

Collaboration with Animoca Brands

Banxa's partnership with Animoca Brands, a web3 gaming conglomerate, has resulted in the integration of Banxa's NFT Checkout and crypto payment infrastructure into Animoca Brands' Australian Football League (AFL) Mint. This integration, which launched on September 22nd, allows users to seamlessly purchase AFL NFTs using Banxa's secure payment system. The collaboration between Banxa and Animoca Brands demonstrates the growing demand for cryptocurrency payment solutions within the gaming industry.

Partnership with Worldline

Worldline, one of the world's largest payments and transactional service providers, has successfully integrated Banxa into its Payment Orchestration system. This integration enables all Worldline merchants to instantly access Banxa's global crypto payment infrastructure. The partnership between Banxa and Worldline aims to facilitate secure and efficient cryptocurrency transactions for a wide range of merchants. The collaboration went into effect in August, and both companies are actively working together to activate new partnerships and onboard merchants.

Regulatory Compliance and Licensing

Banxa has made significant progress in obtaining the necessary licenses and regulatory approvals to operate in various jurisdictions. The company currently holds 32 Money Transmitter Licenses (MTLs) in the United States, and it expects to receive an additional seven MTLs in 2023. This milestone positions Banxa to operate in a total of 42 states/territories in the US, providing a robust foundation for its future growth and expansion.

Management Market Buy

Members of Banxa's management team, including Domenic Carosa (Chairman), Holger Arians (CEO), Zafer Qureshi (Director and Head of Corporate Affairs), Patrick Maguire (CFO), Richard Mico (US CEO and Global Head of Legal, Risk & Compliance), Gregor Cooney (Chief Marketing Officer), Damien Di Cosmo (Head of People & Culture), and Phil Brown (US Chief Compliance Officer), will participate in an open market share purchase. These purchases, approved by the Chairman of the Board of Directors, align with Banxa's share trading policies and demonstrate the management team's confidence in the company's long-term growth prospects.

Banxa Partners With Ledger, the World's Leading Hardware Wallet Provider | Banxa Blog

Deepening Partnerships and Increasing User Experiences

Banxa continues to strengthen its relationships with key partners such as MetaMask, one of the largest digital wallets with over 20 million users. The collaboration aims to enhance user experiences and increase transaction volumes for both Banxa and MetaMask. Recent developments include the exclusive rollout of 1-click ApplePay on MetaMask, offering users a seamless and convenient payment option.

Conclusion

Banxa's recent business updates and integrations with prominent brands highlight the company's commitment to providing secure and efficient cryptocurrency payment solutions. The partnerships with Ledger, Animoca Brands, and Worldline expand Banxa's reach and enable users to seamlessly engage in crypto transactions. The company's financial success, regulatory compliance, and management's market buy initiative further underscore its dedication to long-term growth and shareholder value. As Banxa continues to deepen its partnerships and enhance user experiences, it solidifies its position as a leader in the evolving world of cryptocurrency payments.

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