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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 Khumamayoon Mar 20, 2021 8:50am
357 Views
Post# 32844501

STRONG BUY

STRONG BUY

Highlights

• Australia based Banxa is a Payment Service Provider/PSP company, that allows users to convert fiat-to-crypto and vice versa.

• The company is the first and only PSP to go public to date. Shares are up 60% since our introductory note on January 7, 2021.

• Banxa serves both B2B and B2C markets, with its flagship B2B solutions reaching 30M+ customers across 130+ countries through multiple partners. Partners include top cryptocurrency exchanges such as Binance, Huobi, and OKEx.

• Banxa’s Total Transaction Value (TTV) in H1-FY2021 (ended December 31, 2020) was $195M, up 780% YoY. TTV in the first two months of Q3 was $125M, surpassing full Q2-FY2021’s $111M. Q2 revenue was A$4.5M, up 228% YoY.

• Bitcoin prices hit record highs this year. The total MCAP of cryptos still accounts for less than 1% of fiat. The recent increase in investor appetite for cryptos has resulted in a significant increase in trading volume. For example, Binance’s trading volume on March 11, 2021, was US$25B vs US$6B on January 1, 2021.

• We believe the popularity of cryptos is driven by their fast execution of transactions, the ability to bypass conventional intermediary fees, and in some cases, its use as a potential hedge against inflation (i.e. Bitcoin’s limited supply). Although the sector is highly competitive, we believe Banxa’s affiliation with the top crypto exchanges, along with its early mover advantage, sets the company up for growth going forward.

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