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Banxa Holdings Inc V.BNXA

Alternate Symbol(s):  BNXAF

Banxa Holdings Inc. is a Canada-based company, which provides a financial technology platform. The Company’s principal business activity is being a payment service provider to global cryptocurrency exchanges. The Company’s products include On & Off Ramps, NFT Checkout, OpenRamp and Token Listings. It offers extensive global and local payment options resulting in conversion rates up to three times higher than credit card-only solutions. Its fiat-to-crypto On & Off Ramp solutions enable users to conveniently and securely convert traditional fiat currencies into cryptocurrencies. Its product is a full-stack solution, including UI, Identity know your customer (KYC), Payments, Crypto Liquidity Management and Customer Support. Its NFT checkout solution is offered both in the primary and secondary markets. OpenRamp offers a streamlined solution for on & off ramping, enabling users to effortlessly transition between traditional financial systems and the decentralized blockchain world.


TSXV:BNXA - Post by User

Comment by GoldenArmon Apr 19, 2021 11:05am
285 Views
Post# 33021750

RE:RE:RE:RE:RE:RE:Should be a good week

RE:RE:RE:RE:RE:RE:Should be a good weekMake sense? None.

People are trading cryptos which don't exist or backed by anything (like the US dollar).

However no one is using cryptos to buy stuff  (ie. purchasing goods). It's all trading of 0s and 1s. This is why the banks haven't shut them down. If people used Cryptos to buy stuff then Bitcoin would be history.

BNXA facilitates the trades therefore if you take Bitcoin at  $60K you only need to trade 100 BC
to get to $6M TTV so $100M TTV would be (as an example) $100M/$6M = 1667 BC being sold or bought.  BNXA revenue if 3% of each transaction would be $100M x 0.03 = $3M (which I sure they convert to cash asap).

So yes if Cryptos go down in value then TTV would drop unless there was a growth in trades or if you get more people using your platform.
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