Banxa Announces November Record Transaction Volume of $245 Million

Highlights:

• November Total Transaction Volume (TTV) of $245 million AUD [USD $173m]
• Growth of 50% month-on-month
• Year on Year increase of 642% for month of November
• Signed 21 new partners in November
• Currently Supports 50 coins/tokens

Toronto, Ontario and Melbourne, Australia--(Newsfile Corp. - December 7, 2021) - BANXA Holdings Inc. (TSXV: BNXA) (OTCQX: BNXAF) (FSE: AC00) ("Banxa" or "The Company"), the world's first public payment service provider (PSP) and compliance RegTech platform for the digital asset industry is pleased to announce the November 2021 TTV results are the largest ever recorded.

The business outlook remains positive, with the December quarter expected to set another record.

Banxa provides RegTech (Regulation Technology) services for cryptocurrency exchanges, DeFi platforms and digital asset wallets alongside its payment services, allowing users in the network to easily and securely convert fiat currency to cryptocurrencies and back again. With the regulatory focus squarely on the burgeoning digital asset industry in multiple jurisdictions, Banxa's service allows crypto platforms to focus on business growth. At the same time, the company brings the highest conversion rates and best experience to their users.

Holger Arians, CEO of Banxa said: "I am excited to see the result of the team's hard work over the past few months. We have increased our capacity and service levels to new heights. With a strong operational foundation, we are able to scale much more efficiently into the future. We firmly believe that we are still at the very beginning of our journey in this industry. We do see strong indicators for future growth on various fronts."

The approx FX rate between $AUD/$USD is AUD$1 = USD 0.71cents

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ON BEHALF OF THE BOARD OF DIRECTORS

Per: "DOMENIC CAROSA" https://twitter.com/dcarosa
Domenic Carosa
Chairman (1-888-218-6863)

ABOUT US

Banxa Holdings Inc. (TSX-V: BNXA) (OTCQX: BNXAF) (FSE: AC00)

Banxa powers the world's largest digital asset platforms by providing payments infrastructure and regulatory compliance across global markets. Banxa's mission and vision is to build the bridge that provides people in every part of the world access to a fairer and more equitable financial system. Banxa is headquartered in Melbourne, Australia, with European headquarters in Amsterdam, the Netherlands.

For further information go to www.banxa.com

This news release may contain "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies.

These statements generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance.

Banxa's statements expressed or implied by these forward-looking statements are subject to a number of risks, uncertainties, and conditions, many of which are outside of Banxa's control, and undue reliance should not be placed on such statements. Forward-looking statements are qualified in their entirety by the inherent risks and uncertainties of the Company's business, including: Banxa's assumptions in making forward-looking statements may prove to be incorrect; adverse market conditions, including risks related to COVID-19 and risks that future results may vary from historical results.

Except as required by securities law, Banxa does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For Further Information, see www.banxa.com

CONTACTS:

Investor Relations:
North America: +1 (604) 609 6169
International: +61 451 744 080
Email: Investor@banxa.com

Lytham Partners, LLC
Ben Shamsian
New York/Phoenix
Email: shamsian@lythampartners.com

Media Contacts:
Dave Malcom - Chief Marketing Officer
Email: dave.malcolm@banxa.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/106934