Banxa Announces 34% Monthly Growth with $117 Million Transaction Value
Toronto, Ontario and Melbourne, Australia--(Newsfile Corp. - October 12, 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 Reg-tech platform for the digital asset industry, has today announced its results for September 2021. The company has recorded a Total Transaction Value (TTV) of $117.5 mn AUD.
- The company recorded a September Total Transaction Value (TTV) of $117.5 MN AUD - A 34% increase over the previous month
- This TTV represents a 412% increase Y-o-Y.
- For the quarter ending Sept 30, the TTV was $252.3 MN AUD
- Bitcoin and Stablecoins (USDC/USDT) both saw the most significant volume growth - in line with market demand
- Local payment methods such as bank transfer (Interac, SEPA Instant, etc.) had the highest growth, proving that Banxa's local payments provide cheaper fees and more consumer trust than credit cards
Speaking about the results, Banxa CEO Holger Arians said: "It's great to see the market begin to pick up again after a few months of uncertainty. We believe the future of the digital asset space will be driven by deeper integration with traditional payments and financial services, and building the infrastructure to achieve this is our core objective. More rigid compliance protocols, greater transparency and more local payments are the key areas we have focused on, and the market has responded to this."
Banxa's 2-layer platform of payments and compliance infrastructure for cryptocurrency exchanges and DeFi platforms has created significant and sustained interest in the company, largely as a response to increased regulatory scrutiny of the digital asset space. This response from regulators has impacted a number of players in the sector, both large and small. Banxa is actively expanding in all major markets, including North America, the EU, and Asia Pacific and is actively pursuing further licensing and regulatory recognition in those markets.
ON BEHALF OF THE BOARD OF DIRECTORS
Per: "DOMENIC CAROSA" https://twitter.com/dcarosa
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
North America: +1 (604) 609 6169
International: +61 451 744 080
Lytham Partners, LLC
Liam Bussell, Head of Corporate Communications
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/99323