Banxa and BitMart Partner for Seamless Fiat-to-Crypto Onboarding

Rhea-AI Summary

BANXA Holdings Inc. (OTCQX:BNXAF) announced a strategic partnership with BitMart, enhancing cryptocurrency adoption in crucial markets like Asia-Pacific and Latin America. This collaboration will provide BitMart users with more fiat-to-crypto on-and-off-ramping solutions, leveraging Banxa’s extensive payment network. Key benefits include higher conversion rates and lower fees due to access to local payment options. An introductory offer of 0% gateway fees on credit card purchases is available until March 31, 2023. This partnership underscores both companies' commitment to improving the digital asset trading experience.

Positive

• Strategic partnership with BitMart enhances crypto adoption in key markets.
• More fiat-to-crypto on-and-off-ramping solutions for BitMart users.
• Increased conversion rates up to three times higher than credit card solutions.
• 0% gateway fees on major credit card transactions until March 31, 2023.

Negative

• None.

Integration to advance global cryptocurrency adoption in rapidly growing markets

TORONTO--(BUSINESS WIRE)-- BANXA Holdings Inc. (TSXV:BNXA) (OTCQX:BNXAF) (FSE:AC00) ("Banxa'' or "The Company"), the leading on-and-off ramp solution for Web3, today announced a strategic partnership with BitMart, the premium global digital asset exchange. The collaboration will unlock fiat-to-crypto on-and-off-ramping and further advance cryptocurrency adoption in vital markets such as Asia-Pacific (APAC) and Latin America (LATAM).

BitMart’s user-friendly platform is well-suited for traders of all levels, from beginners to experienced users. Coinciding with BitMart’s fifth anniversary, this integration furthers the exchange’s mission to expand its global operations. The alliance exemplifies both companies’ commitments to address the growing need for a frictionless digital asset trading experience.

“As we strengthen our position as the leading on-and-off ramp in the space, partnering with BitMart allows us to offer their users an extensive network of global and local payment options,” said Holger Arians, CEO of Banxa. “We look forward to working with BitMart to ensure cryptocurrency trading is seamless and secure for users around the world and from all backgrounds.”

Key benefits of the partnership include:

• Expanded Global Footprint: Banxa will give BitMart users more on-and-off ramp options in APAC and LATAM, on top of Banxa’s extensive global coverage such as PayID, POLi, ACH in the U.S., SEPA in Europe, and many more. This ability serves the exchange’s global expansion efforts to further meet customers' needs in their respective local markets.
• Local Payments: Banxa will aid BitMart in onboarding global users with an extensive network of local payment solutions, designed to increase crypto adoption worldwide and result in conversion rates up to three times higher than credit card-only solutions.
• Higher Conversions + Lower Fees: Banxa’s ability to provide access to local markets – with its licenses and registrations as well as alternative payment methods – leads to higher conversion rates and reduced fees for users.

“As demand for crypto continues to grow, our users across the globe need to be able to transact seamlessly with their preferred local payment methods,” said Sheldon Xia, Founder and CEO at BitMart. “With an extensive network of compliant local payment solutions, Banxa facilitates a smooth and simple experience for our users. We are confident that this integration will open the door for key customer segments to explore the crypto ecosystem.”

To celebrate the partnership launching, there is an introductory offer of 0% gateway fees for major supported currencies on credit cards, including Apple Pay and Google Pay until 31st March 2023 when purchasing with Banxa.

About BANXA Holdings Inc.

Banxa's mission is to accelerate the world to Web3 with its leading global on-and-off ramp solution. Through its extensive network of local payment solutions paired with the required crypto licences, Banxa gives its partners and projects access to global audiences with less friction and higher conversions. Banxa has a global team of Web3 natives - with operating headquarters in the USA, Europe and APAC regions.

For further information go to www.banxa.com.

About BitMart

BitMart is the premier global digital asset trading platform. With millions of users worldwide and ranked among the top crypto exchanges on CoinGecko, it currently offers 1,000+ trading pairs with competitive trading fees. Constantly evolving and growing, BitMart is interested in crypto’s potential to drive innovation and promote financial inclusion. To learn more about BitMart, visit their website, follow their Twitter, or join their Telegram for updates, news, and promotions. Be sure to download the BitMart App to easily trade your favorite crypto anytime, anywhere.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230315005251/en/

Media:

Banxa PR

Ethan Lyle

banxa@wachsman.com

BitMart PR

Nickolas Hoog

marketing@bitmart.com

Source: BANXA Holdings Inc.

FAQ

What is the significance of the BANXA and BitMart partnership announced in March 2023?

The partnership aims to increase cryptocurrency adoption by providing enhanced fiat-to-crypto on-and-off-ramping solutions in vital markets like Asia-Pacific and Latin America.

What benefits does the integration with BitMart provide for BANXA users?

BANXA users will benefit from a broader network of payment options and potentially higher conversion rates, as well as reduced fees due to local payment solutions.

When does the 0% gateway fee promotional offer end for BNXAF transactions?

The 0% gateway fee offer for major supported currencies on credit cards ends on March 31, 2023.

What markets are targeted by the BANXA and BitMart collaboration?

The collaboration specifically targets the Asia-Pacific (APAC) and Latin America (LATAM) regions for cryptocurrency adoption.