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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

Post by arh0070on May 08, 2023 12:49pm
108 Views
Post# 35436634

Xrp

XrpThe big problem for Crypto companies like bnxa ,Coin and the others relates to trading in the US .
The SEC is very anti Crypto as its outside the banking system and they can't control it .The main token affected in the top 10 in the US is XRP which the SEC states is a security and thus can be regulated by them .As far as I can tell it is not possible or extremely difficult to trade XRP in the US .Dont know how important that is to bnxa revenue stream .Coin is/has set up a trading platform in Bermuda in case the regulatory environment gets a lot worse (which it may do).
Just impossible to know the future of bnxa ,to some degree (for the first time) I agree with Vancity .
BNXA has basically hidden behind this audit issue to avoid releasing any meaningful financial data for a year so its impossible to know what thier financial requirements will be to stay in business .The only way going forward will be a share sale and dilution to existing shareholders if they in fact need more money to keep going.
Whilst it is probably a good time to invest in some Cryptos as the Crypto winter seems to be over ,the companies actually trading the Crypto may not be very profitable or be good investement .Time will tell.
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