Highlights:
- Total Transactions Value (TTV) was $687 mn AUD for the financial year ending
30th June 2021
- The previous financial year (ending 30th June 2020) TTV was $90 mn AUD - up 755% Year-On-Year
- TTV for June 2021 was
$53mn AUD - generally in line with
overall softer daily trading volumes for the sector
- Banxa has grown from a team of 28 at the beginning of the
year to over 100 employees - with a focus on building new product
offerings and scaling the business
TORONTO and MELBOURNE, Australia, July 14, 2021 /CNW/ - BANXA (TSXV:
BNXA) (OTCQX: BNXAF) (FSE: AC00) Banxa Holdings, the
payment service provider for the digital asset industry, is pleased
to announce TTV for the financial year ending 30th June 2021, in accordance with Australian
law. On the back of the latest crypto bull market, Banxa has
benefited from increased interest in cryptocurrencies. The company
maintains the belief that this is the beginning of mass market
adoption into cryptocurrencies and continues to carry a long
position in the sector as a whole.
Other highlights for the 30th June financial year:
- The 5 most popular currencies were USD, EUR, AUD, GBP and
CAD
- The highest TTV for the year was May
2021 with $127mn AUD with the
biggest day being $10mn AUD
TTV
- Expansion of regulatory footprint - Banxa now holds
cryptocurrency compliance & regulation registrations in
Canada, Australia, Netherlands, Lithuania and via a partnership in the
USA
- The company has "unbundled" its core product line to build
out further offerings to support larger, regulated market
players
Banxa's payment and compliance platform allows corporate
customers to provide end users the ability to purchase digital
assets via multiple payment methods - such as credit/debit card,
Apple Pay or bank transfer. Banxa has the widest range of payment
methods in the sector, and continues to add more.
Domenic Carosa, Founder and
Chairman of BANXA said "As the industry matures, what we see again
and again are issues with infrastructure and compliance - these
have been widely reported in the media. Tech start ups tend to work
to a 'move fast and break things' ethos, which is at odds with the
heavily regulated financial services and payments space. At Banxa,
our aim is to be the regulated partner for cryptocurrency exchanges
and digital only businesses - acting as the bridge to the world of
traditional finance and payments. We continue to expand both our
client base and our product offering to support these clients. Our
sustained and continued growth reflects our success in meeting our
customers' needs."
Banxa Founder and Chairman Domenic
Carosa will be presenting on July
15th at the LD Micro/Sequire Virtual Blockchain Conference.
Register here to attend.
Banxa is also announcing the appointment of Dave Malcolm as Chief Marketing Officer. Dave
has over 20 years' experience in the marketing space, and was a
co-founder of Marley Spoon (ASX: MMM) and prior to that was at
computer game firm Rockstar Games. Mr. Malcolm has a proven track
record of building and scaling digital ventures.
Holger Arians, CEO of Banxa said "I am happy to welcome
Dave Malcolm to the team as CMO. His
experience will be invaluable in growing Banxa to the next level.
It is critical for our partners and the industry to understand the
value and scope of what we are building. Our aim is to be a
responsible, long term actor in the sector. This year's growth has
laid the groundwork for our future expansion. We are building the
infrastructure of the future of finance."
________________________
BANXA announces that it intends to issue 15,512 common shares of
the Company (the "Settlement Shares") at a price of $4.00 per share in settlement of outstanding debt
totaling $62,050.80 (€42,000) (the
"Debt") owing to an arm's length party, General Research GmbH, in
relation to business development, marketing research and customer
acquisition services provided to the Company (the "Debt
Settlement"). The Company is proposing to issue the Settlement
Shares in order to preserve cash to fund future operations.
By issuing the Settlement Shares, the Debt will be definitively
extinguished. The Debt Settlement is subject to all necessary
regulatory approvals, including acceptance from the Exchange.
All securities issued in connection with the Debt Settlement will
be subject to a four-month hold period from the closing date under
applicable Canadian securities laws, in addition to such other
restrictions as may apply under applicable securities laws of
jurisdictions outside Canada.
ON BEHALF OF THE
BOARD OF DIRECTORS
|
Per:
|
"DOMENIC
CAROSA" https://twitter.com/dcarosa
|
|
Domenic
Carosa
|
|
Chairman
(1-888-218-6863)
|
About BANXA
BANXA - Banxa Holdings Inc. (TSXV:BNXA) (OTCQX:BNXAF)
(FSE:AC00) is a Payment Service Provider (PSP) with a mission
to build the bridge between traditional financial systems,
regulation and the digital asset space. Our goal is to onboard the
general public to digital currency by building a fully compliant
payment infrastructure that enables simple and secure conversion of
fiat currency to digital currency (eg. USD/CAD to BTC/ETH). Banxa
has offices in Australia,
the Netherlands and Lithuania. 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
SOURCE Banxa Holding Inc