Global Web3 Payments Leader Banxa Announces Partnership with Digital Assets Platform WonderFi

Rhea-AI Summary

BANXA Holdings has partnered with WonderFi Technologies to develop local, secure payment tools aimed at enhancing user access to digital assets. This initiative leverages Ethereum, Polygon, and Bitcoin blockchains, focusing on markets including Australia, Brazil, EU, UK, and the US. The collaboration will enable WonderFi customers to use local payment options, improving conversion rates and compliance across various regions. The partnership aims to foster a more seamless and secure experience for users engaging with cryptocurrencies.

Positive

• Partnership enhances user access to digital assets with local payment solutions.
• Integration supports multiple blockchains (Ethereum, Polygon, Bitcoin).
• Improved conversion rates and compliance for WonderFi users.

Negative

• None.

The leading on-and-off ramp solution for Web3 and leading compliant crypto ecosystem are collaborating on flexible, local, secure payment tools for users globally

TORONTO & MELBOURNE, Australia--(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 it has formally entered a new partnership with WonderFi Technologies Inc. (NEO: WNDR) (OTC PINK: WONDF) (WKN: A3C166) (FTX:WNDR) (“WonderFi”), a leading technology company with the mission of creating better access to digital assets through compliant centralized and decentralized platforms. The partnership builds on Ethereum, Polygon, and Bitcoin blockchains, and targets key markets including Australia, Brazil, European Union, United Kingdom, and the United States.

Banxa enables WonderFi customers to utilize local payment and banking options with less friction, fewer fees, and better fraud protection. Users are able to easily and securely convert fiat currency to cryptocurrencies and back again.

Banxa’s solutions also provide many important benefits to WonderFi’s gateway platform, including higher conversion rates along with rigorous compliance and risk management across countless geographies.

“We are thrilled to be partnering with WonderFi. Together, we are building the foundational infrastructure needed for the next generation of financial services,” said Banxa CEO Holger Arians. “Banxa’s B2B services provide a seamless experience for our partners to offer their customers local payment methods in a safe, compliant way.”

Kevin O’Leary, Strategic Advisor and Investor at WonderFi, said of the partnership: “With regulatory interest in crypto rapidly increasing around the world, it is more important than ever for Web3 to embrace best-in-class compliance and risk management. Our partnership with Banxa provides this assurance for our customers across the globe.” Mr. O’Leary added: “WonderFi is committed to ensuring customers in our network can transact crypto securely and confidently, without the concerns that might come from less developed platforms.”

“Thanks to our partnership with Banxa, WonderFi’s users can safely purchase crypto through the widest range of payment methods available,” commented Ben Samaroo, CEO of WonderFi. “This added flexibility is another step in our mission to bring fair, efficient, and accessible finance to the masses.”

WonderFi joins Banxa’s growing list of marquee partners, such as leading Web3 projects like Binance, KuCoin, OKX, Huobi, and many more.

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 WonderFi Technologies Inc.

WonderFi is a leading technology company with the mission of creating better access to DeFi through the core principles of simplicity and education. WonderFi has a multi-pronged business strategy which includes a high-growth consumer finance app which will serve as a trusted gateway to the new financial system, and a digital asset portfolio which consists of leading crypto and DeFi assets. WonderFi’s executive team and Board of Directors have an established track record in finance and crypto, with previous experience at Amazon, Shopify, PayPal, Galaxy Digital and Hut 8. WonderFi’s core team of engineers and technologists believe that everyone should have equal access to finance and are aligned in the mission to empower people around the world to access DeFi in a simple, smart and secure way.

For more information, visit www.wonder.fi.

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

Neither 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: "DOMENIC CAROSA" https://twitter.com/dcarosa
Domenic Carosa
Chairman (1-888-218-6863)

View source version on businesswire.com: https://www.businesswire.com/news/home/20220614005439/en/

Media:

Ethan Lyle

banxa@wachsman.com

Source: BANXA Holdings Inc.

FAQ

What is the new partnership between BNXAF and WONDF?

BNXAF (BANXA Holdings) has partnered with WONDF (WonderFi Technologies) to create flexible local payment tools for users accessing digital assets.

Which markets are targeted by the BANXA and WonderFi partnership?

The partnership focuses on key markets including Australia, Brazil, the European Union, the United Kingdom, and the United States.

How will the partnership affect payment options for WonderFi customers?

WonderFi customers will benefit from local payment options with lower fees and enhanced fraud protection, facilitating easier cryptocurrency transactions.

What are the technological platforms involved in the BANXA and WonderFi collaboration?

The collaboration utilizes Ethereum, Polygon, and Bitcoin blockchains to enhance the user experience.

What benefits does BANXA's solution bring to the WonderFi platform?

BANXA's solution offers higher conversion rates and rigorous compliance and risk management across various geographies for WonderFi.