Banxa Launches Local Payments in Turkey, and Releases Market Leading Crypto ‘Sell’ (Off-Ramp) for Stablecoins With Top Global Exchanges
Banxa Holdings has launched its services in Turkey, allowing local users to purchase crypto via bank transfers, marking a strategic expansion in a market with notable crypto adoption. The company recorded AUD$88 million (USD$63 million) in Total Transaction Value for May 2022, an 11% increase from the previous month. Additionally, Banxa expanded its crypto sell feature for stablecoins across major regions including Canada and Australia, and has signed 12 new partners including AAX and Sayl.Finance, which enhances its service offerings significantly.
- Launch in Turkey enables local users to buy crypto with bank transfers.
- Total Transaction Value for May reached AUD$88 million (USD$63 million), up 11% MoM.
- Expansion of crypto sell feature for stablecoins across major markets.
- Signed 12 new partners in May, enhancing growth prospects.
- None.
Key Highlights:
- Launch in Turkey enables all Turkish users in our partners' networks to buy crypto directly with local bank transfer
- Crypto sell feature expanded to stablecoins for major exchanges
- Signed 12 new partners in May including AAX and Sayl.Finance
- AUD
$88 million (USD$63 million ) in Total Transaction Value (TTV) for May 2022, in line with market volumes; up11% MoM
TORONTO, ON and MELBOURNE, AUSTRALIA / ACCESSWIRE / June 15, 2022 / BANXA Holdings Inc. (TSXV:BNXA) (OTCQX:BNXAF) (FSE:AC00) ("Banxa" or "The Company"), the leading global web3 on/off ramp solution, announces key launches as part of its strategic roadmap to release more features in more markets globally. In May the company officially launched its payments provisions in Turkey making Banxa the only on/off ramp operating in this market directly. Turkey was ranked 8th for global consumer crypto adoption in the recent Chainalysis 2021 report, while a 2020 report from the Turkish Government estimated around
During the May period the company also launched its crypto sell product feature for leading stablecoins in the key markets of Canada, Europe, the UK and Australia. This launch means that Banxa's extensive partner ecosystem of exchanges, wallets and other trading platforms can now provide their end users with a full buy and sell cycle for major stablecoins including USDC and USDT. Banxa is now the only platform to enable global off-ramping of stablecoins, leveraging its large network of local bank transfers. Top 10 exchange OKX has been confirmed as the exclusive launch partner.
Lennix Lai, Financial Markets Director, OKX, said:"OKX is empowering people in Turkey to trade crypto responsibly. High-quality on/off ramp solutions provide more opportunities for people to establish their own financial independence with OKX. Our partnership with Banxa will allow us to onboard more users to our platform and offer a broader range of payment options."
Banxa CEO Holger Arians said, "Our partners are continually looking to Banxa to provide new features for their millions of end users, and we are excited that we are able to support them with the ability to offer off-ramping during current market conditions. With plans to expand our offering into more key markets, we are committed to bring new opportunities to our partners and their end users globally."
In the May period, Banxa announced the signing of 12 new partners including Top 50 exchange AAX and Sayl.Finance, leaders in the burgeoning NFT-as-a-Service ecosystem for brand marketers looking to enter the space.
For the period ending with month of May, Banxa also recorded AUD
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BANXA Holdings Inc. (TSX-V:BNXA) (OTCQX:BNXAF) (FSE:AC00)
Banxa's mission is to accelerate the world to Web3 with its leading global on/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
ENDS
ON BEHALF OF THE BOARD OF DIRECTORS
Per: "DOMENIC CAROSA" https://twitter.com/dcarosa
Domenic Carosa
Chairman (1-888-218-6863)
Forward-Looking Information and Statements
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "could", "intend", "expect", "believe", "will", "projected", "estimated", or variations of such words.
By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, the Company has made certain assumptions. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: the ability of the Company to work effectively with strategic investors; and changes in general economic, business and political conditions, including changes in the financial markets, changes in applicable laws, and compliance with extensive government regulation. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein.
Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward- looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.
Forward-Looking Information
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SOURCE: Banxa Holdings
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