Banxa Holdings Inc (CVE:BNXA, OTCMKTS:BNXAF) is the world’s first public Fintech Payment Service Provider (PSP) & Reg Tech provider for the digital asset industry. In layman’s terms, Banxa is the equivalent to Stripe or PayPal in everyday transactions but for the digital asset industry.
“We’re like the PayPal of the crypto industry. We are creating what is called the Fiat on-ramps and off-ramps. We are connecting the U.S., Euro, Canadian dollar world with the digital asset world and we help facilitate the transfer of dollars into Bitcoin, Ethereum and other coins as well as vice versa.” – Banxa Holdings Founder Domenic Carosa
Banxa is building the bridge between fiat currencies like USD or CAD and cryptos like Bitcoin or Ethereum. Its digital asset payment and compliance platform connect businesses from the “old world”, so they can start building in the “new world”. This connection consists of fiat/crypto on/off ramps.
“Some of the ways to describe us is we’re like a toll road operator. When you drive onto the toll road, we clip the ticket. When you drive off the toll road, we also clip the ticket. So we’re really part of that infrastructure of the industry. And then particularly now, as it’s moving from the early adopter market to the mass-market, I think there is significant opportunities out in the marketplace and you’ve seen that with our with our numbers.” – Banxa Holdings Founder Domenic Carosa
Banxa has reported continued market growth. The company’s transaction volume reflects the industry’s accelerating growth and regulations shift. Banxa recently announced a total transaction value increase of 461% year over year to $431 million USD in its latest financials.
“What we’re now starting to see is that this industry is now maturing, and it’s becoming much more mass market. There are now verticals, outside of people, just buying crypto to be able to trade a Bitcoin. Now basically buying Bitcoin because they want to enter the metaverse, they want to be able to buy an NFT or participate in online gaming – and that’s really the core essence of our company.” – Banxa Holdings Founder Domenic Carosa
Watch the full interview for some of the best answers we have heard from anybody in the crypto industry about the future of finance.
00:00 – Banxa Holdings Inc $BNXA $BNXAF Founder Domenic Carosa
00:46 – Business Overview
01:21 – Company development/Regulation & compliance
03:43 – Industry progression
07:11 – Crypto transactions transparency
10:53 – Crypto volatility
13:22 – Central bank digital currencies