Banxa Drives Growth With Strategic Partnerships & Product Enhancements and Engages a Market Maker
- Banxa expands partner network with industry leaders like SUI, Coinmama, Backpack, and Meld.io
- Product enhancements include partner-driven order pricing, advanced webhook statuses, intelligent payment orchestration, and embedded crypto strategy
- Engagement of market maker Generation IACP Inc. to improve liquidity of Banxa's common shares on the TSXV
- None.
Banxa continues to expand its partner network, bolstering transaction volumes with key industry leaders. Highlighting a select few partners below:
- SUI - A major Layer 1 blockchain and smart contract platform with over 8 million wallets and 218k daily active users, providing fast, private, and secure digital asset ownership
- Coinmama - A leading cryptocurrency exchange with 4 million users across 188 countries, facilitating seamless crypto trading
- Backpack - A non-custodial wallet based on the Solana and Ethereum blockchains, offering exclusive xNFT support
- Meld.io - empowering developers to build a Multi Vendor Fintech stack, facilitating diverse financial solutions
Banxa has made significant advancements across various aspects of its product offering, aimed at providing more value to its partners - creating deeper partnerships and improving the end user experience - translating to increased transaction volumes and profitability.
- Partner-driven order pricing
Partners can now set and manage differentiated pricing for their users on a per-transaction basis in order to compete for new users or reward existing ones. Providing partners flexibility to take control of their user acquisition and retention goals
- Advanced webhook statuses
Banxa now returns more granular and frequent updates to the status of orders via its webhooks feature. Partners can get a deeper picture of what's happening with the order of their users, allowing them to create more specific and customisable user communications and experiences
- Intelligent payment orchestration
Banxa has rebuilt its fiat payment management engine from the ground up, now with the ability to automatically route payment requests between acquirers, retry attempts, and providing users with pre-submission validation, significantly enhancing the percentage of successful transactions
- Embedded Crypto Strategy
Banxa has furthered its exploration into an embedded crypto future and how it can revolutionize global commerce and exchange of value by leveraging its payments and compliance infrastructure. The Company is currently working with select partners on a product rollout plan
Overall, these advancements demonstrate Banxa's commitment to innovation and addressing the evolving needs of its partners and users in the crypto payments landscape.
Banxa has engaged Generation IACP Inc. ("IACP") to provide services as a market maker in compliance with the policies and guidelines of the TSX Venture Exchange ("TSXV"). The objective of the engagement is to maintain a reasonable market and improve the liquidity of Banxa's common shares on the TSXV.
IACP will receive a fee of
No stock options or other compensation are being granted in connection with the engagement. IACP does not currently own any securities of Banxa, however, IACP and its clients may acquire an interest in the securities of Banxa in the future. IACP is an arm's length party to Banxa. IACP will be responsible for the costs it incurs in buying and selling of Banxa's common shares, and no third party will be providing funds or securities for the market making activities.
IACP is a
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 licenses. Banxa provides 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
CONTACTS
Investors:
Zafer Qureshi
investors@banxa.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
ON BEHALF OF THE BOARD OF DIRECTORS
Per: "Zafer Qureshi"
Zafer Qureshi = Executive Director and Head, Corporate Affairs, +1-888-332-2692
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions.
These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
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SOURCE Banxa Holding Inc
FAQ
What are some of Banxa's strategic partners mentioned in the press release?
What product enhancements has Banxa made according to the PR?
Who has Banxa engaged as a market maker to improve liquidity of common shares on the TSXV?
What fees will IACP receive for providing market maker services to Banxa?
Is IACP an arm's length party to Banxa?
